Management Company of Russian Industrial Zone in Suez Canal Economic Zone to be liquidated
The Management Company of the Russian Industrial Zone in the Economic Zone of the Suez Canal in Egypt is planned to be liquidated.
According to the draft decree of RF Government published on the federal portal for legal acts, Russian Export Center JSC is recommended to take measures on liquidation of the management company established to finance the creation and ensure the operation of the Russian industrial zone in the Economic Zone of the Suez Canal, with its gratuitous transfer to the organization authorized under the agreement between the governments of Russia and Egypt dated May 23, 2018, of draft documents, including the master plan of the Russian industrial zone, the preparation of which was carried out at the expense of funds allocated under subsidies.
The project is being developed within the framework of Russia-Egypt intergovernmental agreement. It is a part of the national project “International cooperation and export”. The management company was engaged in management and organization of interaction with the representatives of the Suez Canal Economic Zone.
The Russian industrial zone is represented by two sites, one of which is located on the Red Sea coast in the Ain Sokhna area, the second one - in the north of Egypt, in Port Said, on the eastern shore of the Suez Canal. The area of the two sites is 525 hectares with developed transport and port infrastructure.
The trade agreements of Egypt open up additional opportunities for the supply of goods to the countries of Africa, Middle East, Europe, and Latin America. The Russian Industrial Zone is a platform for both Russian companies entering new markets in Africa and in the Middle East, but also for building up supplies to Europe and Asia in particular.
