Reorganization of Future Egypt Authority
President Abdel Fattah El-Sisi issued a new law governing the Future Egypt for Sustainable Development Authority, transforming it into a broad economic entity directly under the President. The law grants it the authority to expropriate lands and state-owned companies and to manage sustainable development zones exempt from taxes. The law aims to expand the authority's activities in the fields of agriculture, industry, renewable energy, housing, and construction, including the reclamation of approximately 4.5 million acres in Egypt—equivalent to half of the current agricultural land—as part of efforts to restructure the management of state assets in line with International Monetary Fund reforms. Additionally, the law establishes a sovereign fund called "Future Egypt Sovereign Fund" to invest national assets both domestically and internationally, as well as a social fund named "Da'em" to finance projects in education, health, and housing, with a focus on social justice.
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