Egypt’s Minister of Planning, Rania A. Al-Mashat, participated in the launch of the Voluntary Peer Review Report on Egypt’s Competition Law. The event, organized by the Egyptian Competition Authority (ECA) in collaboration with the United Nations Conference on Trade and Development (UNCTAD), was held under the patronage of Prime Minister Mostafa Madbouly. It brought together ministers, government officials, and stakeholders to discuss strategies for enhancing competitiveness and attracting investment in Egypt.
Strengthening Egypt’s Competitive Edge
Minister Al-Mashat outlined the government’s ongoing efforts to empower the private sector, attract sustainable investments, and create public-private partnerships to promote inclusive economic growth. She emphasized the government’s focus on improving the business environment, ensuring transparency, and enforcing the updated Competition Protection and Anti-Monopoly Law to curb monopolistic practices and enhance market efficiency. These measures are seen as essential to boosting Egypt’s competitiveness and creating a more attractive investment climate.
Fostering Innovation and Equal Opportunities
Sherif Farouk, Egypt’s Minister of Supply and Internal Trade, highlighted the significance of the Voluntary Peer Review Report in advancing Egypt’s economic competitiveness. He noted that fostering fair competition goes beyond legal frameworks. It requires a strategic vision that supports innovation, offers equal opportunities, and promotes a balanced economy, where both producers and consumers can benefit from a fair market environment.
Emphasizing Market Regulation and SME Support
Alaa Farouk, Minister of Agriculture and Land Reclamation, praised the government’s efforts to strengthen the national economy amidst global challenges. He stressed the importance of effective market regulation, transparency, and the protection of competition, particularly for small and medium enterprises (SMEs). He noted that supporting SMEs and ensuring fair competition are critical to attracting foreign investments and driving sustainable economic growth.
Constitutional Commitment to Competitive Economics
Mahmoud Fawzi, Minister of Parliamentary, Legal, and Political Communication, reminded the attendees of the constitutional mandate for a competitive economic system. He referred to Article 27 of the Egyptian Constitution, which enshrines the principles of transparency, competition, and balanced growth, while also protecting consumers, workers’ rights, and ownership rights across various sectors.
ECA’s Role in Advancing Competition Policy
Mahmoud Momtaz, Chairperson of the ECA, outlined the authority’s achievements since the implementation of its 2021-2025 strategy. He highlighted that the ECA had reviewed over 1,350 cases in various sectors, including healthcare, education, and food products, and provided feedback on 105 draft laws and policies. These efforts have led to significant improvements in Egypt’s international rankings for competition policy. The country’s standing in indices from organizations like the United Nations Economic and Social Commission for Western Asia (ESCWA) has improved substantially.
UNCTAD and Regional Support
Teresa Moreira, Head of the Competition and Consumer Policies Branch at UNCTAD, commended the ECA’s successful implementation of policies to promote competitiveness. She acknowledged the fruitful collaboration between UNCTAD and the ECA in producing the Voluntary Peer Review Report and emphasized the importance of establishing training centers in Egypt, the Middle East, and Africa to combat monopolistic practices and support fair competition in the region.
Willard Mwemba, CEO of the Common Market for Eastern and Southern Africa (COMESA) Competition Commission, also praised Egypt for its commitment to UNCTAD’s principles. He highlighted Egypt’s role as one of the leading COMESA member states in adopting effective policies to combat monopolies and foster a competitive market environment across the region.
