Alexei Overchuk held a meeting with Chairman for the General Authority of the Suez Canal Economic Zone Walid Gamal El-Din
Alexei Overchuk addressed a conference dedicated to implementing the Russian Industrial Zone project
Alexei Overchuk visited the site of the Russian Industrial Zone in the economic zone of the Suez Canal
Alexei Overchuk held a meeting with Chairman for the General Authority of the Suez Canal Economic Zone Walid Gamal El-Din
As part of his working visit to the Arab Republic of Egypt (Cairo), Deputy Prime Minister of the Russian Federation Alexei Overchuk held a meeting with Chairman for the General Authority of the Suez Canal Economic Zone Walid Gamal El-Din and got familiarised with the progress of the creation of the Russian Industrial Zone in the economic zone of the Suez Canal.
During a meeting with the Chairman for the General Authority of the Suez Canal Economic Zone, Alexei Overchuk noted that the project to create a Russian industrial zone in the Suez Canal economic zone had a strategic importance for our country and boasted great potential in the context of providing unique opportunities for developing investment and innovation-based cooperation, growing the manufacturing industry of the two countries, and creating new jobs.
The Deputy Prime Minister emphasised that the Ain Sokhna industrial zone was one of the world’s largest industrial agglomerations with direct access to the port of Ain Sokhna, which provides convenient access to global markets, primarily the Global South markets.
The Suez Canal Economic Zone boasts six seaports that account for 20 percent of the world’s container traffic and 10 percent of maritime trade, as well as four industrial zones. An electricity grid, a motor road connecting Ain Sokhna with the ports of Suez and Hurghada, and a freight railway run along the border of the Russian industrial zone; 9 km away is a cargo port with modern container and bulk terminals. The site itself has treatment facilities and an electrical substation.
The Russian delegation in Cairo led by Alexei Overchuk includes representatives of relevant government agencies, businesses and business associations. “It is critically important to familiarise Russian businesses with the opportunities available in this zone due to tax and customs preferences, project support and services that open up new opportunities for working in Africa,” Alexei Overchuk said.
During the conference dedicated to the implementation of the Russian Industrial Zone project, key issues of the practical implementation of the joint project and further strengthening of bilateral cooperation in the industrial sphere were discussed. Alexei Overchuk noted the long history of cooperation between the two countries. “The USSR participated in the construction of the Aswan Dam, a number of industrial enterprises, power transmission lines, and the creation of nuclear physics laboratories and the implementation of work on the peaceful use of atomic energy. Today, we are continuing the good traditions of long-term cooperation and are implementing flagship projects, namely, the country’s first El Dabaa Nuclear Power Plant and the Russian Industrial Zone,” the Deputy Prime Minister said.
The intergovernmental agreement, signed on behalf of the respective leaders of Russia and Egypt, laid down the basic principles for the implementation of the project aimed at enhancing the efficiency of bilateral cooperation and improving the investment climate. “The result should include the emergence of industrial infrastructure in Egypt under Russian management with opportunities for Russian participants in foreign economic activity, the creation of new jobs and long-term cooperation chains,” Alexei Overchuk said.
The Deputy Prime Minister noted that Russia saw Africa as one of the fastest growing emerging markets and considered the Russian Industrial Zone a gateway to both Egypt and the African continent.
In 2025, both the Russian and Egyptian sides completed the required regulatory procedures to move to the practical stage of project implementation. In particular, in May, an agreement legally setting out the terms of lease of the land plot of the Russian Industrial Zone by the Russian side was signed in Moscow.
The Deputy Prime Minister noted that at this stage the Russian operator needs to carry out a large volume of preparatory and construction work. “In parallel, our business needs to understand that such work is being carried out, and prepare its investment decisions to fit it. Therefore, it is important to coordinate the efforts of our Government, the Egyptian authorities, the zone operators, as well as its prospective residents. These plans need to be coordinated and aligned, and then residents will come here, and enterprises will emerge and new jobs will be created,” the Deputy Prime Minister said.
Alexei Overchuk also thanked the Egyptian side for the warm hospitality and expressed hope for productive interaction.
