Russia Keen to Invest in Egypt’s Energy, Tourism Sectors – Deputy PM

Several Russian companies are willing to invest in Egypt in fields of heavy industry, agriculture, energy, scientific and technological cooperation, and tourism, Russia’s Deputy Prime Minister Arkady Dvorkovich said.

Dvorkovich’s remarks were made during the Russian business delegation’s meeting with Egypt’s Investment Minister Asharaf Salman and Tourism Minister Hesham Zaazou.

The Russian official expected a leap in Russian tourism in Egypt backed by the recent decline in the ruble, saying Egypt would be Russian tourists’ more preferred destinations instead of European countries since the North African country offers more attractive and cheaper prices.

Russia’s Deputy Prime Minister pointed out that Egypt is an attractive and large market with 87 million populations in addition to the possibility of benefitting from the signed agreements between Egypt and other states.

On the other side, Zaazou emphasized that bilateral relations are distinctive as Russia is considered as main resource of tourism in Egypt.  He added that during the period between January-November 2014, around 2.9 million tourists visited Egypt recording a 35% increase comparing to last year.