Egypt will restructure a military-linked body focused on agricultural and industrial development and commodities imports into an overarching economic authority reporting directly to the president.
President Abdel Fattah al-Sisi has ratified the law to restructure the "Future of Egypt" economic authority, according to the official gazette published on Monday.
The law allows the authority to absorb state land and companies, run tax-exempt "sustainable development zones," and operate other funds.
Since 2024, Future of Egypt has been entrusted with running one of the world’s largest wheat import operations.
It has also assumed control over major Egyptian lakes and fisheries, acquired the largest stake in the Egyptian Commodities Exchange, and expanded into luxury housing and construction, renewable energy and infant formula.
