{"id":558199,"date":"2021-08-01T04:25:14","date_gmt":"2021-08-01T04:25:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/a-bigger-better-riz\/"},"modified":"2021-08-01T04:25:14","modified_gmt":"2021-08-01T04:25:14","slug":"a-bigger-better-riz","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/a-bigger-better-riz\/","title":{"rendered":"A bigger, better RIZ"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Russia is getting one super-sized RIZ:<\/strong> Egypt and Russia agreed last Thursday to expand the scope of the Russian Industrial Zone (RIZ) within the Suez Canal Economic Zone (SCZone), according to a <a href=\"https:\/\/bit.ly\/3yiksRA\">statement<\/a>. The two sides inked an agreement that will hand Russian companies an additional 5 mn square meters distributed between East Port Said and Ain Sokhna. The pact came after two days of meetings in Moscow.<\/p>\n<p><strong>A new Russian company will be established by the end of the year to manage the RIZ,<\/strong> ahead of the zone\u2019s completion in the next <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d29f4a19-66ce-4017-81cb-f62e96786181\">five months<\/a>. The SCZone team in Moscow met with Russian firms in the transport, pharma, and fertilizer industries interested in setting up shop here.<\/p>\n<p><strong>A Russian delegation will visit RIZ next month. <\/strong>Russian companies that have expressed interest in setting up shop in SCZone will visit RIZ by September.<\/p>\n<p><strong>Egypt is now offering better terms:<\/strong> An agreement signed last week will allow Russian companies to sell up to 100% of their locally-made products in the Egyptian market.<\/p>\n<p><strong>ALSO FROM THE SCZONE-<\/strong><\/p>\n<p><strong>Chinese home appliances giant <\/strong><strong><a href=\"https:\/\/www.midea-group.com\/\">Midea Group<\/a><\/strong><strong>, <\/strong><strong>a Fortune Global 500 company<\/strong><strong>, <\/strong><strong>will establish a USD 25 mn factory in<\/strong> <strong>China\u2019s TEDA industrial zone<\/strong>, and on Friday laid the foundation stone for the facility, the SCZone said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/189910603179368\">a statement<\/a>. The factory will produce 1.5 mn washing machines each year for export to the Middle East, Africa, the EU and the US, with the facility slated for completion at the end of 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russia is getting one super-sized RIZ: Egypt and Russia agreed last Thursday to expand the scope of the Russian Industrial Zone (RIZ) within the Suez Canal Economic Zone (SCZone), according to a statement. The two sides inked an agreement that will hand Russian companies an additional 5 mn square meters distributed between East Port Said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":558200,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[116,1106,72,125,270,7103,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-china","tag-east-port-said","tag-enterpriseam","tag-investment-watch","tag-russia","tag-suez-canal","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"8a13e6dd-4aba-44b9-88de-d126e0d0b819","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/32.jpg","photo_position":"above","related_issue":[558191],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A bigger, better RIZ - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/a-bigger-better-riz\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A bigger, better RIZ\" \/>\n<meta property=\"og:description\" content=\"Russia is getting one super-sized RIZ: Egypt and Russia agreed last Thursday to expand the scope of the Russian Industrial Zone (RIZ) within the Suez Canal Economic Zone (SCZone), according to a statement. 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Infrastructure work on the zone\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601201,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/21\/eight-companies-sign-mous-to-invest-in-russian-industrial-zone-in-suez-canal\/","url_meta":{"origin":558199,"position":1},"title":"Eight companies sign MOUs to invest in Russian Industrial Zone in Suez Canal","author":"enterpriseam admin","date":"21 February 2019","format":false,"excerpt":"INVESTMENT WATCH- Eight companies sign MoUs to invest in SCZone\u2019s Russian Industrial Zone: Eight Russian companies signed yesterday MoUs with the Russian Exports Center to invest in the planned USD 7 bn Russian Industrial Zone (RIZ) in the Suez Canal Economic Zone, according to an SCZone statement. The companies signing\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602018,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-receives-letter-of-guarantee-for-russian-industrial-zone\/","url_meta":{"origin":558199,"position":2},"title":"Egypt receives letter of guarantee for Russian Industrial Zone","author":"enterpriseam admin","date":"17 March 2019","format":false,"excerpt":"Egypt receives letter of guarantee for Russian Industrial Zone: Egypt has received the letter of guarantee from Russia\u2019s Trade and Industry Ministry for the implementation of the USD 7 bn Russian Industrial Zone (RIZ) in the Suez Canal Economic Zone (SCZone), deputy SCZone head Mohamed Baraya said on Thursday. An\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601177,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/egyptian-russian-company-to-manage-the-usd-7-bn-riz-to-be-set-up-in-april\/","url_meta":{"origin":558199,"position":3},"title":"Egyptian-Russian company to manage the USD 7 bn RIZ to be set up in April","author":"enterpriseam admin","date":"20 February 2019","format":false,"excerpt":"An Egyptian-Russian company will be set up in April to operate and manage the planned USD 7 bn Russian Industrial Zone (RIZ), Suez Canal Authority boss Mohab Mamish said in a statement. The Suez Canal Economic Zone and the Russian authority for exports will also set up a joint committee\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601121,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/19\/20-russian-companies-looking-at-russian-industrial-zone\/","url_meta":{"origin":558199,"position":4},"title":"20 Russian companies looking at Russian Industrial Zone","author":"enterpriseam admin","date":"19 February 2019","format":false,"excerpt":"Twenty Russian companies are keen to establish facilities in the planned USD 7 bn Russian Industrial Zone (RIZ), Russian Industry and Trade Minister Denis Manturov said, according to MENA. The remarks come days after Suez Canal Authority boss Mohab Mamish arrived in Moscow to finalize the agreement for the zone.\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600560,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/03\/el-sisi-ratifies-usd-7-bn-riz-agreement-with-russia\/","url_meta":{"origin":558199,"position":5},"title":"El Sisi ratifies USD 7 bn RIZ agreement with Russia","author":"enterpriseam admin","date":"3 February 2019","format":false,"excerpt":"El Sisi ratifies agreement with Moscow to build the RIZ: President Abdel Fattah El Sisi has ratified a 50-year agreement with Russia to establish the USD 7 bn Russian Industrial Zone, according to a copy of the decree published in the \u00a0Official Gazette. 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