Kabul: British Afghan Chamber of Commerce and Industry (BACCI) has signed a Memorandum of Understanding MoU) with the Kabul New City Development Authority (KNCDA) for the $8 billion new capital city being planned.

The MoU was signed by BACCI Chairman Dr Hotak and chairman of KNCDA.

The event was attended by prominent private sector leaders, government representatives and representatives from UK Trade and Investment Agency and British Embassy.

Under the MoU, the two organisations will work together on important stages of the project, promote the project globally and attract investment.