Back to the complete issue
Thursday, 10 October 2019

55 Russian manufacturers show interest in the RIZ

Fifty-five Russian manufacturers want to get in on the RIZ: Fifty-five Russian manufacturers have expressed interest in setting up shop in the USD 7 bn Russian Industrial Zone (RIZ), Russian Industry and Trade Minister Denis Manturov told Egyptian counterpart Amr Nassar yesterday, according to a Trade Ministry statement (pdf). Moscow has committed to invest up to USD 190 mn in developing infrastructure for the zone, which is expected to produce USD 3.6 bn worth of products by 2026. The two ministers also discussed the ongoing negotiations for a trade agreement between Egypt and the Eurasian Economic Union (EAEU).

Manturov also met President Abdel Fattah El Sisi and Prime Minister Moustafa Madbouly for economic and cultural talks yesterday. Manturov is in Cairo for a two-day visit heading a business delegation for a joint forum to discuss cooperation in various fields. The delegation leaves later today.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.