Arab Finance: President Abdel Fattah El-Sisi issued a law reorganizing the Future of Egypt Authority for Sustainable Development after it was approved by the House of Representatives.

The law aims at strengthening the agency's role in driving sustainable development and enhancing the state's economic capacity.

Under the law, the authority will operate as a national entity with a special legal status under the supervision of the president. It will have technical, financial, and administrative independence, as well as an independent legal personality, with its headquarters in Cairo and the possibility to establish branches or offices inside and outside Egypt.

The new law tasks the agency with maximizing the state's economic capabilities to support the country's strategic development objectives while balancing national security requirements with efforts to increase economic returns.  

Moreover, the agency is expected to improve the state's economic capabilities and support its strategic development objectives while balancing national security requirements with efforts to increase economic returns.

It will also broaden the agency's mandate to include contributing to food, water, and energy security, supporting national economic development, enhancing the sustainability of state assets and sovereign wealth, and promoting social justice.

In addition, the agency will be responsible for formulating policies governing sustainable development zones and overseeing their implementation as part of Egypt's broader strategy to drive sustainable economic growth and improve resource management.