Russia’s investments in Egypt reaches $7.4B, another $7B to be added soon: amb. Georgiy Borisenko

CAIRO – 31 August 2020: Russian Ambassador in Cairo Georgiy Borisenko said that the bilateral relations between Egypt and Russia are witnessing a huge renaissance in recent years, backed by a strong friendship between Egypt’s Sisi and Russia’s Putin.

He explained in statements to Youm 7 website that the Russian investments in Egypt reached $7.4 billion, pointing to the possibility of doubling the number through the industrial zone project in the Suez Canal, which expected to add another $7 billion of investments to the currant number.

Russia’s ambassador expressed wishes for soon resumption of air flights between Russia, Sharm El-Sheikh and Hurghada, stressing the desire of millions of Russian visitors to come to Egypt and visit the Red Sea resorts.

Borisenko expressed his great happiness to work in Cairo, which is his first experience in the Arab world and the Middle East. He also praised the economic reforms in Egypt.

He added that the skilled policy of the Egyptian government helped in developing various branches of industry and the economy, expecting Egypt to witness great growth despite the crisis that the Corona epidemic has created in the whole world.

Borisenko denied the existence of any political obstacles to implementing Dabaa nuclear power plant (NPP), explaining that there are some technical issues that are being worked on in order to ensure the safety of the nuclear power plant.