Arab Finance: Egypt and the UAE are in talks to establish an Emirati industrial zone in East Port Said, aimed at boosting local production and enhancing export opportunities, as per a statement.

This move was discussed during a meeting between the Egyptian Minister of Transport and Industry Kamel El-Wazir with a delegation from the UAE Ministry of Industry and Advanced Technology.

El-Wazir emphasized that East Port Said's prime geographical position and its connectivity via a railway line to the rest of Egypt make it an ideal site for the new industrial zone.

This zone is set to include a range of projects, such as solar energy production, a factory for wind energy equipment, sewage treatment and seawater desalination plants, and an aluminum manufacturing complex.

El-Wazir also noted that discussions are underway about potentially exempting the Emirati industrial zone from customs duties to further incentivize investment.

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