Egypt to restructure military-linked economic body

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.

-Reuters