Egypt - The House of Representatives has given its preliminary approval on a draft law submitted by the government on amending some provisions of Law No. 177 of 2018 on the establishment of The Sovereign Fund of Egypt for Investment and Development, according to a statement.

The proposed draft aims to provide the Prime Minister with the authority to appoint the minister in charge of enforcing the provisions of this law.

The draft also stipulates that the fund will be directly overseen by the cabinet.

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