Translated by Ollie Richardson for Fort Russ
2nd February, 2016
The Russian Federation and the Arab Republic of Egypt signed a Memorandum of understanding providing for assistance in the creation of Russian industrial zones on the territory of Egypt.
The document was signed by the Ministers of Industry and Trade of the countries – on the Russian side, Denis Manturov, Egypt – Tarek Kabil.
The project envisages the creation in Egypt of a special zone with a lighter tax regime for Russian residents. Russia will occupy the area of 2 mln sq/m in East Port Said, where the production of specific sectors of the economy will be opened. In the near future there will be a pubic launch of the port.