The law, approved by the Senate on 7 November, primarily addresses how the country’s socio-economic development plans are drawn up.

A report prepared by the House’s Budget Committee said the draft law shows the rules and methods upon which the country’s sustainable development plans are prepared at both the national and governorate levels, putting into account that the current 1973 planning law states that the public sector is the main player in economic development.

“But under the new law, the private sector will be entrusted with implementing at least 25 percent of the country’s economic development investments,” the report pointed out.

Minister of Planning and Economic Development Hala El-Said said the new general planning law reflects Egypt’s current public-private partnership in achieving the country’s 2030 sustainable development plans.

“It also encourages decentralisation and gives local councils a greater role in mapping out economic development plans,” said El-Said.

The report said the new law aims to set up a Higher Council for Planning and Sustainable Development.

“This council, which will be headed by the president of the republic, will help create coordination among all state authorities and the private sector when it comes to forging economic planning policies,” said the report, adding that “the council will make sure that no development projects are implemented without making sure first that they are economically feasible.”

The House’s agenda of debate on Tuesday will also include taking a final vote on six laws that were approved in principle by MPs over the last few weeks. The list includes laws on general unified finance, the regulation and promotion of the use of financial technology (FinTech) in non-banking financial activities, the transfer of a part of the money of private funds and accounts to the state treasury, the setting up of the renewable energy authority, the regulation of the performance of universities, and the regulation of the performance of the academy of arts.

On Wednesday, the House will also discuss a law on merging the Fund of Improving Egyptian Cotton into the Cotton Research Institute affiliated with the Agricultural Research Centre.