Penning Deals to Operate Russian Industrial Zone in Egypt

 Russian President Vladimir Putin (2nd L), his Egyptian counterpart President Abdul Fattah al-Sisi (2nd R) and Russia’s Defense Minister Sergei Shoigu (L) meet onboard a guided missile cruiser at the port of Sochi, August 12, 2014. REUTERS/Alexei Druzhinin/RIA Novosti/Kremlin
Russian President Vladimir Putin (2nd L), his Egyptian counterpart President Abdul Fattah al-Sisi (2nd R) and Russia’s Defense Minister Sergei Shoigu (L) meet onboard a guided missile cruiser at the port of Sochi, August 12, 2014. REUTERS/Alexei Druzhinin/RIA Novosti/Kremlin
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Penning Deals to Operate Russian Industrial Zone in Egypt

 Russian President Vladimir Putin (2nd L), his Egyptian counterpart President Abdul Fattah al-Sisi (2nd R) and Russia’s Defense Minister Sergei Shoigu (L) meet onboard a guided missile cruiser at the port of Sochi, August 12, 2014. REUTERS/Alexei Druzhinin/RIA Novosti/Kremlin
Russian President Vladimir Putin (2nd L), his Egyptian counterpart President Abdul Fattah al-Sisi (2nd R) and Russia’s Defense Minister Sergei Shoigu (L) meet onboard a guided missile cruiser at the port of Sochi, August 12, 2014. REUTERS/Alexei Druzhinin/RIA Novosti/Kremlin

The Ministry of Industry and Trade of the Russian Federation has announced that the first eight firms have penned partnership deals to operate the Russian industrial zone in Egypt.

The step coincides with a time when economic and commercial ties are developing between Russia and Egypt, knowing that Russian President Vladimir Putin visited Cairo in December in 2017 and Egyptian President Abdul Fattah el-Sisi visited Russia in October last year.

Chairman of Egypt's Suez Canal Authority Mohab Mamish signed a memorandum of understanding with Afanasiev Anton, General Director of Economic Zone at Dubna, to cooperate in the field of transforming and exchanging expertise between the two.

Russian Minister of Industry and Trade Denis Manturov said that the first portfolio of eight agreements of intent with interested companies would be signed by Russian Export Center in the Russian industrial zones.

Manturov added that the industrial zone is not only a promising project to develop economic and commercial ties between countries but also a multi-functional station to export Russian industrial products to MENA markets.

The Russian side expects the project of establishing an industrial zone in Egypt to take 13 years, given that the first Russian company will commence its operations in the first phase in 2019. While Russian firms that would operate there will be able to manufacture products of value worth USD3.6 billion per year starting 2026.

The Russian industrial zone is set to be established on more than a 5-million-square meter plot of land in Port Said, with the first phase to cost 190 million dollars.



Fire, Smoke Upend Western Canada’s Summer Tourism Season

 A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)
A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)
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Fire, Smoke Upend Western Canada’s Summer Tourism Season

 A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)
A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)

Severe wildfire seasons are increasingly hurting western Canada's lucrative tourism industry, with some visitors beginning to avoid the busy late-summer months due to concerns about uncontrolled blazes, smoke-filled skies and road closures.

After a scorching start to July, nearly 600 wildfires are now ablaze across British Columbia and Alberta, including a huge fire that this week devastated the picturesque tourist town of Jasper in the Canadian Rockies.

Dozens of communities, including popular holiday spots in British Columbia's Kootenay region, are under evacuation orders and several highways are closed.

This year's surge in wildfire activity comes after Canada endured its worst-ever year for wildfires in 2023, when more than 15 million hectares (37 million acres) burned, including parts of the city of West Kelowna in the heart of British Columbia's wine region.

Ellen Walker-Matthews, head of the Thompson Okanagan Tourism Association, said the industry was seeing a lot more last-minute travel decisions instead of booking in advance.

"It's a huge blow. July and August are traditionally the busiest months in the region," said Walker-Matthews, adding that while her region has been relatively unscathed by wildfires this summer, some visitors are choosing to avoid interior British Columbia altogether.

The members of the British Columbia Lodging and Campgrounds Association are reporting a 5-15% drop in bookings from a year ago, with the biggest declines coming from the hotter Okanagan and Cariboo regions, said Joss Penny, who heads the association.

"The concern is that this is something we have to live with and we have it every year now," said Penny.

Although wildfires in Canada's forests are natural and common, scientists say drier, hotter conditions fueled by climate change are leading to more volatile and frequent blazes.

'SMOKEY SKIES'

Some events, like the Salmon Arm Roots and Blues Festival, usually held in August, have now been rescheduled to earlier in the summer to avoid what is now seen as peak smoke season. The festival, which was cancelled last year due to nearby wildfires, was this year moved to July to benefit from "less smokey skies."

Wildfires and extreme climatic events are prompting tourists to "change their plans not just temporarily, but permanently," said Elizabeth Halpenny, a tourism researcher and professor at the University of Alberta, noting that seasonal workers in the sector are often the hardest hit as they have few protections during a bad season or amid a cataclysmic fire.

Tourism contributed C$7.2 billion to the British Columbia economy in 2022, and C$9.9 billion to Alberta in 2023, according to the latest government data.

Jasper National Park is one of Canada's premier tourist destinations, with more than 2 million visitors a year flocking to see its pristine mountain landscapes and abundant wildlife, including grizzly bears, moose and elk.

Kelly Torrens, vice-president of product at international tour company Kensington Tours, described western Canada as a bucket-list destination. But the company now has 49 trips that were supposed to pass through Jasper this season in limbo. Six others were forced to evacuate the park when the fire hit.

Parks Canada has cancelled all camping reservations within Jasper National Park until Aug. 6 and with potentially 50% of the town's structures destroyed by fire, the cleanup and rebuild could take years.

Halpenny is among those hedging their bets.

"I've booked a campsite stay in the mountain parks but at the same time, I booked a campsite out on the prairie somewhere and that's my backup plan because I don't want to miss out on my vacation with my family."