Egypt: Inauguration of New Administrative Capital

Egypt is trying to bring international investors back to the country

Abdel Fattah al Sisi

A double ceremony in Egypt, where on Tuesday, April 2, President Abdel Fattah al-Sisi will officially take office for his third term and subsequently inaugurate the North African country’s new administrative capital 40 kilometers east of Cairo. Al-Sisi was re-elected for the third time in December 2023 with 89.6% of the vote and will remain in office for another six years.

Al-Sisi will be sworn in before the House of Representatives. Members of the Senate, some leaders of major political parties, many public figures, and members of the diplomatic corps will also attend the ceremony.

Egypt’s ambitious plan to build a new “modern and innovative” capital was announced in March 2015 during an international conference in Sharm el-Sheikh. This way Egyptian authorities tried to bring back foreign investors who left Egypt after the 2011 uprising. Currently, the subject of foreign direct investment has become very topical after Egypt lost a significant part of its revenues from the Suez Canal.

The initiative to move government bodies and other structures to the new administrative capital is part of President Al-Sisi’s steps to support the economy and create new jobs. The project, which does not yet have an official name, is being implemented on an area of 4249 hectares. The new administrative capital should house institutions and various government structures. The future population is estimated at 6.5 million.