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Future Egypt Device shifts to Presidency
President Abdel Fattah El-Sisi has issued a law to reorganize the "Future Egypt Agency for Sustainable Development," transforming it into an economic authority directly subordinate to the presidency. The aim is to enhance its capabilities in implementing large-scale developmental projects in the fields of food security, energy, and importation, while exempting it from governmental bureaucracy and red tape. The law grants the agency the authority to manage state-owned lands and companies, and to establish sustainable development zones exempt from taxes, providing it with broader powers for quicker execution and expanding its economic activities. Experts expect that this move will strengthen sustainable development and improve the agency's efficiency, although it may face challenges related to competition with private sectors and ensuring equal opportunities.
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