Trade and Industry Minister Mounir Fakhry Abdel Nour has announced the start of negotiations for a joint investment fund between Egypt and Russia that includes Arab funds and international banks for $2 billion in order to finance projects that have been agreed between the two sides.
This came at the minister’s speech before the Egyptian-Russian Business Forum in the presence of Russian Industry and Trade Minister Denis Manturov and a delegation of Russian and Egyptian companies.
For his part, Manturov said the Russian industrial zone of the Suez Canal area will play a significant role in attracting Russian investments, adding that the Russian AvtoVAZ automotive company will assemble cars and vans in Egypt.
He also called on Egyptian businessmen to participate in the Petersburg International Economic Forum on July 7 to get familiar with the Russian market.
