February 18, 2019
Admiral Mohab Mameesh, chairman of the Suez Canal Authority and Suez Canal economic zone, today with Afanasiev Anton, Director of the Economic Zone in Dubna, signed a Memorandum of Understanding (MoU) for cooperation and exchange of experiences between the two regions. This took place during the Admirals visit to the Russian Federation to finalize and discuss the establishment of a Russian industrial zone in East Port Said over an area of 5.25 km2 and investments of about 7 billion dollars.
The delegation of the region, headed by Admiral Mamesh, accompanied by Ambassador Ihab Nasr, Ambassador of the Arab Republic of Egypt, toured the factories located there, identified the latest technologies used by one of the factories to manufacture medical supplies and identified the available investment opportunities and incentives provided by the Russian region to investors. The delegation also visited the largest operating factory in the manufacture of power used in the manufacture of aircraft and satellites.
Admiral Mameesh, his delegation and Ambassador Ihab Nasr met with the Director of the Industrial Zone of Dubna and Deputy Russian Minister of Investment to discuss opportunities for cooperation between the two parties and the exchange of experiences of special economic zones.
The Governor of province of Moscow met with Admiral Mamesh and Major General Mohamed Praia, Vice chairman of the Northern Region Authority, who presented a presentation on the mechanisms of supporting and encouraging investors in these region, how the management of the industrial zone deals with foreign investors, the most important industries in the region, and the most important services provided to investors.
Admiral Mameesh said that during his first visit to Russia a number of Russian businessmen expressed their desire to invest in Egypt and to be a part of the economic zone of the Suez Canal. He noted that the establishment of the Russian industrial zone in Egypt will promote economic and commercial co-operations between the two countries to the level of industrial partnership which will allow Russian products to enter African and Middle East markets.
He added that a meeting will be held with a large number of the companies interested in investing and being present in the Russian industrial area in East Port Said, which works in the fields of pharmaceuticals, medical products, building materials, fertilizers, agricultural equipment, machinery industry, oil and gas, petrochemicals and other fields. A number of Memorandums of Understanding will be signed with these companies within the framework of presenting various aspects of the project and continuing negotiations with the Russian side.