This research paper explores the ways of improving the Egyptian economy through the legislation’s role in implementing the sustainable development goals. After the Arab Spring and during the new economic transitions process, the need becomes urgent to make sweeping reforms to the public sector, the problems of the private sector, external markets-whether national or global, investments in regional grid as well as in solar power such as solar generation.
I will begin my discussion by taking Egypt as the proto-typical example of a state which made the transition from the absence of a legal system with irrelevant laws, a weak judiciary, and a multitude of obsolete economic regulations to a modern state. I will examine later some of the variants of this process in modernizing the public sector in long-term challenge, the problems of the private sector in the region. First, the agenda for private sector reform is enormous. Most have a complex and overburdened structure of administrative controls. For example, Egypt has cataloged 36,000 regulations affecting the private sector. Many of these regulations operate at cross-purposes, cover different ministries, and are implemented by different levels of government that gave rise to pervasive corruption. Sometimes, even when regulations are removed, bureaucracies continue to implement the old laws. Firms find it hard to start a new business and also to shut down. In Egypt, bankruptcy is considered a crime, a fact which deters innovation, investment and risk taking. More broadly, creditor rights, quality of information, collateral regimes, and other legal rights are unclear and underdeveloped. As a result of this situation, private sector firms often focus on successful rent seeking, rather than production and innovation. Finally, I will deal with the small, medium enterprises, and large enterprises which have equally important, although somewhat different roles to play.