23 February 2019 06:52 PM

Russia's industrial zone in Egypt great opportunity for Russian companies: Qabil

Friday، 25 May 2018 - 01:13 PM

The Russian industrial zone in Egypt represents a great opportunity for the Russian companies seeking global markets for their products, Trade Minister Tarek Qabil said on Friday.


Qabil made the remarks during an expanded meeting with 60 mega Russian companies interested in pumping investments into the Russian industrial zone.


The meeting reviewed investment opportunities in the zone as well as investment incentives offered by the Egyptian government under the new investment law.


Investment in the Egyptian market provides access to a market comprising nearly of 1.8 billion people, thanks to the trade agreements signed between Egypt and the world's greatest economic blocs, Qabil said in a statement.


Investment projects set to be established in the zone meet the demands of the Egyptian market and other markets, the minister noted, adding that the project will contribute to creating thousands of job opportunities.


He went on to say that the Russian investments in Egypt stand at USD 66.5 million in the sectors of tourism, construction, and services, while Egypt's investments in the Asian country reach USD 9 million in the domains of exportation, importation and real estate development.



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