{"id":631052,"date":"2018-03-08T04:40:56","date_gmt":"2018-03-08T04:40:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/08\/cabinet-approves-usd-7-bn-russian-industrial-zone-agreement-unified-building-code-amendments\/"},"modified":"2018-03-08T04:40:56","modified_gmt":"2018-03-08T04:40:56","slug":"cabinet-approves-usd-7-bn-russian-industrial-zone-agreement-unified-building-code-amendments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/08\/cabinet-approves-usd-7-bn-russian-industrial-zone-agreement-unified-building-code-amendments\/","title":{"rendered":"Cabinet approves USD 7 bn Russian Industrial Zone agreement, Unified Building Code amendments"},"content":{"rendered":"

<\/a> CABINET WATCH- The Ismail Cabinet signed off yesterday on the preliminary agreement to set up the USD 7 bn Russian Industrial Zone (RIZ)<\/strong> in the Suez Canal Economic Zone, according to a statement<\/a>. Russia\u2019s Industry and Trade Ministry spokesperson had said last month<\/a> that Egypt and Russia are expected to sign the final contracts establishing the zone on the sidelines of a joint trade commission meeting in Moscow this month. Talks on the RIZ \u2014 which had initially been announced in 2014 \u2014 had hit a roadblock last summer but resumed smoothly in October.<\/p>\n

The ministers also signed off on amendments to the Unified Building Code<\/strong> that would grant consultants and specialists registered with the General Organization for Physical Planning the legal authority to inspect construction projects. These experts would also be mandated with taking the necessary legal action to halt and report any violations.<\/p>\n

Also approved during the weekly meeting:<\/p>\n