Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
A busy legislative cycle with 58 ‘priority’ draft laws: The Madbouly cabinet reviewed yesterday some 58 draft laws on its priority list ahead of submitting them to the parliament at a future date, according to a cabinet statement.
Unsurprisingly, the state’s privatization program got a shout-out: Draft laws to help facilitate privatization and the sale of state assets to investors under the state ownership policy document got a mention from Parliamentary Affairs Minister Alaa El Din Fouad. With an ambitious plan in place to raise USD 5 bn from October 2023 to June 2024 and a projected USD 29 bn in debt repayments due in 2024, we’re not surprised it got a special mention. Proposed amendments to expand the jurisdiction of the economic courts bill so they can settle final higher-value appeals also got some attention.
The Madbouly government is still keen on its green hydrogen ambitions: Draft laws to grant incentives to green hydrogen investors, such as tax breaks under a new green hydrogen law, are also on cabinet’s priority list. That makes good sense: green hydrogen projects don’t just mean green energy, they means a whole lot of FDI. General Authority for Investment and Freezones (GAFI) head Hossam Heiba recently said that our green energy sector in Egypt is expected to receive more than USD 50 bn over the coming 10 years.
WATCH THIS SPACE- The draft labor law is also still on the priority list. The government pulled the bill from the House of Representatives earlier this year to redraft it after backlash from the business community, which said the original version was lopsided in favor of workers. Prior to the redraft, the bill would have introduced new labor rights, including legislating mandatory annual raises, caps on working hours, and longer maternity leave and notice periods, among other things. Labor unions have also had sharp criticism of the previous version of the bill.
Home owners and developers who have violated the building code may be allowed to reconcile with the state under a new act that is also on cabinet’s priority list, according to Fouad. The proposed act would replace a 2019 law designed to legalize informal buildings and to prevent structures built next to the Nile from being legalized.
Draft laws to protect you on the road and at work are also priorities: Fouad also mentioned the draft traffic law to toughen penalties for traffic violations.
