During a dialogue session elucidating the impact of foreign direct investment on the Egyptian economy, Khaled Abbas, Chairman and Managing Director of the Administrative Capital for Urban Development (ACUD), highlighted the strategic significance of the New Administrative Capital (NAC) project, Invest-Gate reports.
He emphasized that the project’s prime location, strategically situated near the main Sokhna Road, streamlines goods transportation and access to Sokhna Port.
Abbas underscored that the NAC’s exceptional location is pivotal in elevating it into a key hub for attracting diverse investments. The strategic positioning offers top-notch logistical support for companies, fostering connectivity with crucial industrial zones and emerging urban centers.
Presenting the NAC as a pivotal investment magnet to the Egyptian-British Business Association’s business mission, Abbas highlighted the significance of the high-speed electric train project in enhancing connectivity. This initiative not only strengthens ties between the NAC and other cities like Alexandria but also streamlines goods movement, thereby reducing costs.
He stressed that establishing a rail link between the NAC and various cities and industrial zones is instrumental in enticing investors and catalyzing economic vitality in the region.
Abbas further noted that the government has embarked on an ambitious strategy aimed at bolstering infrastructure to support industrial and commercial operations, fostering an investor-friendly environment. This strategic approach not only streamlines the launch of numerous development projects in the future but also nurtures a conducive environment for attracting a spectrum of investment activities.
Of significance, the NAC is gearing up to initiate strategic planning for establishing a comprehensive industrial zone spanning approximately 500 feddans. The NAC has made substantial progress in developing the first phase, nearing completion by about 70%.
Currently, the city is witnessing the inauguration of new government headquarters housing specialized ministerial buildings and accommodating around 50,000 employees.
Moreover, the NAC is already home to about a thousand families, marking steady residential growth within the region.
