New law restructures Egypt's Future of Egypt Authority
Egypt · 4 weeks ago
President Abdel Fattah El-Sisi has ratified Law 147 of 2026 reorganising the Future of Egypt Authority for Sustainable Development. The law was published in the official gazette on 28 July 2026, after parliament approved it on 15 July.
It transfers the authority out of the Ministry of Defence and grants it administrative, financial and technical independence, reporting directly to the president. It may absorb state-owned land and companies, run tax-exempt "sustainable development zones", and operate investment funds.
The law establishes two new funds — the Pyramids of the Nile Sovereign Fund and Daem — investing domestically and internationally, with returns channelled into education, health, housing and infrastructure. The government says the aim is a more flexible legislative and institutional framework for managing large development projects and attracting local and foreign investment.
Source: Official gazette, via Ahram Online and Egyptian Streets