INTERVIEW - Russia aims to enhance trade, economic ties with Egypt: Moscow Business Ombudsman

Amr Yehia , Wednesday 11 Dec 2024

Ahram Online interviewed Moscow Business Ombudsman Tatyana Mineeva, who led a Moscow government delegation to Cairo and Alexandria during the Moscow Days event (from 23 to 26 November) to reinforce Russian-Egyptian bilateral relations.

Tatyana Mineeva
File Photo: Tatyana Mineeva, the Business Ombudsman of Moscow. Photo courtesy of Business protection Facebook page.

 

Mineeva highlighted the growing mutual interest between Cairo and Moscow during the interview.

She especially shed light on the significant progress in cultural, economic, and investment cooperation and the exchange of expertise between them in various fields over the past decade.

The delegation's business agenda included a series of commercial, cultural, and humanitarian events to enhance trade and economic ties between Russia and Egypt, particularly in the Middle East and North Africa region.

Ahram Online: You mentioned a growing mutual interest between Moscow and Cairo. Can you elaborate on the development of cooperation in recent years?

Tatyana Mineeva: Absolutely! Over the past decade, cooperation between our cities has flourished across cultural, economic, and investment sectors.

We have actively exchanged experiences in urban management and infrastructure development.

Significant events include the first major Moscow business delegation to Cairo in 2006 and signing agreements on Russian-Egyptian industrial cooperation in 2015 and an agreement on construction and infrastructure development in Cairo in 2018, which coincided with President Abdel-Fatah El-Sisi's visit to Russia.

They also include joint medical projects in 2020 and 2021, a business mission of Russian companies to Egypt in 2022, and a strategic business mission of Russian regions to Egypt in 2023, with B2B negotiations exceeding 50 Egyptian enterprises.

Adds to this is the ongoing partnership in the energy sector, particularly the Dabaa Nuclear Power Plant project.

 

 

AO: What promising investment opportunities does Moscow offer to Egyptian investors?

TM: Moscow prioritizes supporting high-tech industries and innovation-driven entrepreneurs.

The city offers a strategy for business development and innovation support until 2030, encourages investment in research and development, and provides financing opportunities for technological projects and tax benefits for technoparks housing over 2,000 high-tech companies.

Moscow also offers public-private partnerships (PPPs) for infrastructure development, reduced regional tax burden for industries and high technologies, and offset contracts for localized production.

It also guarantees city purchases for up to 10 years and targeted subsidies, concessional lending, grants, and site allocation for production localization.

Moreover, the Moscow Business Angel investment programme offers cashback for venture projects.

The Moscow Business Ombudsman also protects the rights of both Russian and foreign businesses operating in Moscow.

We have dedicated institutions to support international entrepreneurship, foster innovation, and connect entrepreneurs with leading scientific circles.

Additionally, we offer support for specific sectors like fashion through our Fashion Industry Council.

AO: How does Egypt's recent BRICS membership impact bilateral relations?

TM: The BRICS agenda is a focus area for Moscow's business ecosystem. We participate in BRICS missions, organize B2B negotiations, and foster cooperation through events like the Women's Entrepreneurship in BRICS forum.

Additionally, we launched the International Centre for the Development of Educational Competencies of the BRICS countries, aiming to build a unified educational platform across these nations.

AO: Can you share your thoughts on future cooperation in developing smart cities, considering Egypt's ongoing urbanization projects?

TM: Moscow is a leader in smart city development, boasting ISO Smart City certifications and a city portal offering 380 electronic services. We are confident Moscow's expertise can be valuable to Egypt's smart city initiatives.

AO: How can cultural relations be further strengthened for mutual benefit?

TM: New projects are underway to establish Moscow cultural centres in Egypt and bolster tourism exchange.

Moscow's Council for the Development of Cultural and Tourist Infrastructure actively supports creative businesses and heritage site conservation. Collaboration with Egyptian counterparts can lead to mutually beneficial outcomes for both economies.

AO: What is your message to Egyptian investors and business representatives?

TM: The Moscow Business Ombudsman is a bridge between businesses and the government. We welcome Egyptian colleagues and partners with open arms.

Moscow is a welcoming city, and we are eager to collaborate with Egyptian businesses.

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