Northern Africa
Construction of Russian Industrial Zone in Egypt set to commence
Russia's First Deputy Minister of Industry and Trade, Vasily Usmakov has confirmed that Russia will start financing the Russian Industrial zone in Egypt this year, 2022.
Background
Russia and Egypt had initially signed an agreement for the establishment of a Russian industrial zone in the Suez Canal in Egypt on 23 May 2018. The agreement was endorsed by Egypt’s President Abdel Fattah al-Sisi a year later. The agreement is for a period of 50 years.
The industrial zone to be
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