Russia will start financing the construction of a Russian industrial zone in Egypt in 2022 and is considering using this format in other countries, First Deputy Minister of Industry and Trade Vasily Osmakov said during the "Made in Russia" international export forum.
"Starting next year, we will start financing the construction of a Russian industrial zone in Egypt. We are thinking about how to scale this experience to other countries, for example, to Uzbekistan," he said.
The construction of the industrial zone was scheduled to start in 2020, but due to the pandemic the deadline was pushed back.
An intergovernmental agreement between Russia and Egypt on the creation of a special zone with a eased tax regime for Russian resident enterprises in eastern Port Said was concluded in 2018. The full implementation of the project is designed for 13 years. It is planned that resident companies will be able to start production as early as 2022. They will receive lease vacations, preferential rates for energy resources, a special preferential tax regime, as well as a ready-made site.
GSV "Russia - Islamic World"
Photo: Federation Council
Based on materials from TASS