Russia aims to raise investments in Egyptian industrial zone to USD 7 billion

Russia's Ambassador to Cairo, Georgiy Borisenko, highlighted the rapid development of economic and trade relations between Russia and Egypt, announcing that the construction of several facilities within the Russian Industrial Zone in the Suez Canal Economic Zone will begin this year. He stated that total Russian investments in the area are expected to reach USD 7 billion in the near future.

Borisenko emphasized that the industrial zone presents a strategic gateway for Russian companies seeking access to the African market, adding that many Russian firms are interested in marketing their products not only in Egypt but also across Arab and African markets.

He noted that a new long-term agreement signed between the two countries last month regulates the commercial terms for the land allocated to the zone, which will be governed under the principle of "usufruct" for a period of three years. This agreement aims to ensure the sustainability of Russian investments in the region.

Pointing to the notable growth in bilateral trade, Borisenko stated that trade volume exceeded USD 9 billion by the end of 2024, reaching a record high. He added that in the first quarter of 2025, Egypt’s exports to Russia amounted to approximately USD 1 billion.

Ambassador Borisenko also expressed his satisfaction with Egypt's expected participation in the Russia-Arab Summit scheduled for October, describing it as a valuable opportunity to further strengthen ties between Russia and the Arab world.