Russia secured a 49-year lease in Egypt’s Suez Canal Economic Zone to build an industrial hub. The zone offers duty-free access to African markets and unique tax benefits. It aims to boost regional trade while expanding Russian technology and investment.
Russia has leased land in Egypt’s Suez Canal Economic Zone for 49 years to establish the Russian Industrial Zone. The project, launched under an intergovernmental agreement, entered its active phase following a business mission involving over 30 Russian companies. Officials highlighted the unique tax and customs benefits guaranteed for nearly five decades.
Priority in the zone will go to enterprises producing goods in high demand across regional markets. Egypt expressed interest in Russian expertise in transport engineering, chemicals, petrochemicals, pharmaceuticals, and medical equipment, viewing the zone as a way to attract advanced technology and investment.
Positioned in the Suez Canal hub, which handles 20% of global container traffic, the industrial zone offers Russia duty-free access to African markets and beyond. This strategic location is expected to strengthen trade links, expand exports, and deepen Russia’s economic presence in Africa.
https://tvbrics.com/en/news/russia-leases-egyptian-land-for-49-years-to-create-industrial-zone