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Egypt launches new sovereign fund through "Future Egypt" platform
The Egyptian government intends to expand the powers of Future Egypt Authority through a new draft law, allowing it to become an independent economic entity directly overseen by the Presidency. The law grants the agency broad authorities to manage state assets, establish development zones, and create a new sovereign fund known as the "Future Egypt Sovereign Fund," aimed at strengthening the national economy, enhancing food and energy security, and achieving sustainable development. Additionally, the agency will be exempt from some regulations and be granted extensive regulatory and investment powers, aligning with the economic reform efforts agreed upon with the International Monetary Fund.
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