The new administrative capital should have attracted a cumulative USD 6.7 bn in foreign direct investment by its fifth year of development, Investment Minister Sahar Nasr said on Tuesday, according to Ahram Gate. Speaking on the second day of the national youth conference in Alexandria, Nasr said that the Housing Ministry is currently in talks with China’s CFLD over the planning and development of the city and its infrastructure. Nasr will be visiting Singapore next month, accompanied by Suez Canal Economic Zone (SCZone) chief Mohab Mamish, to promote Egyptian investments in the area and is looking to reel in c. USD 30 bn in investments for the zone's infrastructure development. The ministers of finance, supply, and public enterprises also spoke at the conference.

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