Egyptian 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 Head of the Armed Forces Financial Affairs Authority, Lieutenant General Ahmed El-Shazly; the President’s Advisor for Urban Planning, Major General Amir Sayed Ahmed; and the Chairman of the New Administrative Capital Company, Eng. Khaled Mahmoud Abbas, all joined the meeting to share their insights on the matter.
The official 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, in addition to the necessary preparations made in this regard.
The meeting also reviewed developments in the revenue growth of the New Administrative Capital Company. It further emphasized that NAC did not and will not cause any burdens on the state budget but rather achieve considerable gains 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.
Moreover, the meeting touched on the company’s societal role in light of the initiative sponsored by the President to allocate several 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.
Finally, 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 a smooth flow in light of the steady growth of the movement of citizens and the economic and commercial activity in the capital.
