RIZ
Fifty-five Russian companies until present want to invest in the Russian Industrial Zone (RIZ) that is being constructed in the SCzone.
SCzone houses 167 enterprises, Chairman of the Suez Canal Authority Mohab Mamish stated.
Russia announced on Monday that its first overseas industrial zone in Egypt will be implemented in 2021.
The decree was published in the Egyptian Gazette on Jan. 23, 2019.
RIZ is set to decrease unemployment in Egypt, increase foreign direct investment (FDI), increase production and establish Egypt as a trade hub.
Egypt and Russia will sign an intergovernmental agreement on setting up an industrial zone in Egypt’s East Port Said region in the Suez Canal Economic Zone.
A wrap-up of the most prominent business news of the day.
The project is worth $7 billion and will be established on an area of 5.25 million square meters.
The Russian Industrial Zone in Egypt will span over 5 million square meters and provide 35,000 direct and indirect jobs.
The Russian Industrial Zone in Egypt will span over 5 million square meters and provide 35,000 direct and indirect jobs.
