Russia Welcomes Investing In Suez Canal Region

Mr. Vladislav Lutsenko, Deputy Chairman of the Russian-Arab Business Council, said that his country welcomes investing in Suez Canal region, and establishing whopping ventures there, but if the Egyptian government demanded that.

Lutsenko told “Amwal Al Ghad” that Suez Canal region is a fruitful area for numerous hefty investment ventures that expected to attract world’s attention toward Suez Canal, which may become an important axis in the global trade field.

He referred that the Russian side is studying the states in Egypt and the investment opportunities in a number of fields, like the real estate, renewable energy, engineering industries and information technology, in addition to boosting the volume of Russia’s imports of Egyptian commodities; especially the agricultural crops.

The Russian-Arab Business Council is also examining at the present time how to cooperate with Egypt to establish Russian investing ventures in Egypt as well as establishing a free industrial zone in the Egyptian market, said Lutsenko; emphasizing that the investment climate in Egypt is great, but it needs security and political stability.

For his part, Eng. Ahmed Galal El Din, Chairman of the International Business & Investment Association (IBIA), there is a pressing call for reshaping the Egyptian-Russian Business Council, which would be a real hub for the Egyptian businessmen as well Russian counterpart. The council would give the priority to boosting the volume of the Egyptian exports to the Russian market, as the trade of balance highly goes for the interest of Russia. The Russian exports to the Egyptian markets are$ 3.3 billion, while the Egyptian exports to Russian are $ 300 million.