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Russia may open special industrial zones in other countries after Egypt

March 24, 17:40 UTC+3

The memorandum on establishment of the Russian industrial zone was signed last February

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MOSCOW, March 24. /TASS/. Russia’s special industrial zones may be opened in other countries after the pilot opening in Egypt, Minister of Industry Denis Manturov said on Friday.

"This is a highly important project [establishment of the industrial zone in Egypt - TASS] because we want to work out all the possible implementation scenarios there not merely for Egypt but also for other countries," Manturov said.

Russia expects the agreement with Egypt on establishment of a Russian industrial zone in Egypt’s territory will be concluded during the St. Petersburg International Economic Forum (SPIEF) in early June, Deputy Minister of Industry Gleb Nikitin told TASS earlier.

The memorandum on establishment of the Russian industrial zone was signed last February. The project provides for a special area with a preferential taxation regime for Russian resident companies. The zone specialization stipulates localization of Russian industrial companies from machine-building, pharmacy, modern technologies and agriculture spheres.

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