Egypt’s House of Representatives on Tuesday,14 July, approved a government-drafted law granting the Future of Egypt Authority for Sustainable Development administrative, financial, and technical independence and transferring its affiliation from the Ministry of Defense to the Presidency. The Future of Egypt Authority, also known as Mostaqbal Misr, is one of Egypt’s main state development bodies and oversees projects spanning agriculture, food security, logistics, renewable energy, and commodity distribution. The legislation establishes a new legal and regulatory framework for the authority, also known as Mostaqbal Misr, as it transitions into an independent body overseeing projects in agriculture, food security, logistics, renewable energy, and investment. Under the new law, the authority will operate as an independent special-purpose state body with its own legal personality and greater flexibility to manage large-scale development and investment projects, attract local and foreign investment, and increase private sector participation. The restructuring comes as the Future of Egypt Authority has expanded far beyond its original agricultural mandate since its launch in 2022 as part of the New Delta project under the supervision of the Egyptian Armed Forces. Today, the authority oversees projects spanning agricultural reclamation, grain storage, livestockContinue reading "Egypt Parliament Approves Law Granting Future of Egypt Authority Independence"
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