The statement followed President Abdel-Fattah El-Sisi’s meeting with Khaled Abbas, chairman of the Board of Directors of the Administrative Capital for Urban Development (ACUD), and other officials.

They discussed the state of business development in the new capital, as well as the ongoing plan to relocate government agencies, the spokesperson explained.

The large growth in ACUD’s revenue was highlighted during the meeting, Fahmy said, emphasizing that the company is paying taxes to the state rather than placing a burden on the budget.

The president also reviewed development of the new capital’s infrastructure, including facilities, roads, axes, residential neighborhoods as well as commercial and economic areas.

Infrastructure construction has attracted substantial private investment, the spokesperson continued.

Furthermore, the meeting reviewed an initiative, sponsored by the president, that provides a certain number of scholarships to attend universities in the new capital to exceptional students from Upper Egypt.

At the meeting’s end, the president directed all attendees to follow the highest standards of quality, safety, and technology control.

Finally, he directed responsible authorities to keep a close watch on traffic in the new capital in light of the increasing number of people now working there.