The Egyptian Ministry of Supply and Internal Trade announced recently that the International City of Gold, which will be located in the Administrative Capital, is in the stage of "setting the final points" of the project.
The Minister of Supply and Internal Trade, Ali Al-Moselhi, stressed during the press conference to announce the “Nabio” Gold and Jewelery Exhibition and Conference 2022 that “the consultants responsible for the construction of the city are in the final stage, in accordance with President Abdel Fattah Al-Sisi’s directives that the city be at the highest level.”
The City of Gold will reflect Egypt's long history in this delicate craft industry, with the presence of the largest equipped showrooms, and training for skilled workers to inform them of the latest technologies for the industry.
Adviser to the Minister of Supply for Gold Industry Affairs, Nagy Farag, says: "The City of Gold reflects an insightful view of Sisi, because specialized cities such as the Leather City, the Furniture City, and others have an important role and help to raise these industries and reach the global level."
And Farag continued, in his interview with "Sky News Arabia": "The city is considered a global forum for gold exhibitions and schools, and it will be considered a qualitative leap for Egyptian gold, which is one of the main pillars of the national economy in the country."
The advisor to the Minister of Supply for the Gold Industry noted that "the city has a great benefit in terms of producing certified gold at the global level, in addition to upgrading the industry," explaining that the final touches are being put in place for it, and "in a short time, the city's dream will be realized on the ground."
The new administrative capital was chosen to be the headquarters of the City of Gold, to include an exhibition throughout the year specialized in gold, in addition to displaying special spaces for gold traders.
The new city in the administrative capital will be built on an area of 150 acres, and the establishment of the city comes to maximize and achieve optimal exploitation to increase Egypt's production of gold, which currently stands at about 15.8 tons annually.