President Sisi holds meeting to review New Administrative Capital developments

CAIRO – 25 July 2023: President Abdel Fattah El Sisi held a meeting on Tuesday to follow up on the latest concerning the business development in the New Administrative Capital.

The meeting was attended by Head of the Armed Forces Financial Affairs Authority Lieutenant General Ahmed El-Shazly, President's Advisor for Urban Planning Major General Amir Sayed Ahmed, and Chairman of the of the New Administrative Capital Company Eng. Khaled Mahmoud Abbas.

Spokesman for the Presidency Counselor Ahmed Fahmy said the status of the transfer of ministries and government agencies to the New Administrative Capital was presented, as well as the necessary preparations made in this regard.

More than 100 government agencies, including 30 ministries and many affiliated agencies, have relocated to function from the new capital, with 40,000 employees and workers. Developments of the works being completed in the various components of the capital, including facilities, roads, axes, residential neighborhoods, and commercial and economic areas, were also reviewed.

The meeting also reviewed developments in the revenue growth of the New Administrative Capital Company.

There was emphasis that it did not and will not cause any burdens on the state budget, but rather shall achieve large revenues for the state in addition to paying taxes due to the state treasury, as well as the role it plays in developing infrastructure, equipping lands and buildings, and attracting and encouraging local and foreign private investment. 

The meeting also touched on the company's societal role, in light of the initiative sponsored by the President to allocate a number of scholarships for outstanding students from Upper Egypt in various international universities in the New Administrative Capital, in line with the state's policy of offering all groups the opportunity to access the best available services.

The President gave directives to continue committing to the highest standards of quality, safety and technology in the various works and projects in the New Administrative Capital, as well as the continuous monitoring of traffic inside the capital to ensure smooth flow, in light of the steady growth of the movement of citizens and the economic and commercial activity in the capital.