The Arab Society for Intellectual Property, affiliated with the Arab League, in partnership with the Information and Decision Support Center under the presidency of the Cabinet, honored the New Administrative Capital (NAC) as the “Capital of Intellectual Property”, Invest-Gate reports.

This acknowledgement came during a conference held under the slogan “The Role of Intellectual Property Rights in Promoting Economic Development in Arab Countries.”

The conference was attended by Khaled Abbas, Chairman and Managing Director of the Administrative Capital for Urban Development (ACUD), as well as representatives from international and regional organizations, and public and private entities concerned with intellectual property rights in Arab countries.

Abbas expressed his pleasure at the NAC being honored by the Arab Society for Intellectual Property in its inaugural session. He noted that this recognition confirms the success of the NAC in establishing an economic and administrative city that aligns with contemporary developments, creating an attractive area for investment that is green, smart, and sustainable.

He emphasized that the NAC was developed in accordance with the Egyptian government’s strategy for 2052, which aims to increase Egypt’s urban area from 7% to 14% in light of a projected annual population growth of 2.5%. This growth is expected to result in a population of 180 million people within 30 years.

He pointed out that ACUD was established simultaneously with the launch of work on the NAC to manage the city with an investment-oriented approach. Within seven years, it has become one of the top five Egyptian companies generating taxes for the state, contributing EGP 54 billion over the years.

Abbas explained that the NAC was chosen and honored as the Capital of Intellectual Property in its inaugural 2024 session based on the Society’s established criteria. Key among these criteria are the availability of creativity incubators, research centers, and laboratories for emerging companies, aimed at providing the best solutions and technologies.

Additionally, the NAC offers facilities for artistic performances, such as museums, theaters, opera houses, and various cinemas, as well as elements that attract writers and artists, including scientific conferences, workshops, and art festivals.

Furthermore, the contracts include provisions for protecting intellectual property rights regarding the use of technologies in planning and implementation, as well as the procedures and regulations established for resolving disputes over intellectual property rights. The NAC also promotes the concept of intellectual property protection and its significance at social, economic, and cultural levels.