Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, participated in the launch of the Voluntary Peer Review Report on Egypt’s Competition Law, organized by the Egyptian Competition Authority (ECA) in collaboration with the United Nations Conference on Trade and Development (UNCTAD). The event, held under the patronage of Prime Minister Mostafa Madbouly, brought together ministers, officials, and stakeholders to discuss enhancing competitiveness and investment in Egypt.
Minister Al-Mashat highlighted the government’s ongoing efforts to empower the private sector, attract sustainable investments, and foster public-private partnerships to promote inclusive economic growth. She emphasized the importance of improving the business environment, increasing transparency, and enforcing Egypt’s updated Competition Protection and Anti-Monopoly Law to combat monopolistic practices and enhance market efficiency.
Sherif Farouk, Minister of Supply and Internal Trade, underscored that the release of the Voluntary Peer Review Report marks a significant step in fostering a competitive economic environment. He explained that fair competition goes beyond legal frameworks, acting as a strategic vision that supports innovation, equal opportunities, and a balanced economy. This approach ensures that producers and consumers alike benefit from a fair market.
Alaa Farouk, Minister of Agriculture and Land Reclamation, commended the government’s efforts to strengthen the national economy amidst global challenges. He emphasized the importance of market regulation and the protection of competition, noting that transparency, fairness, and support for small and medium enterprises (SMEs) are key to attracting foreign investments and driving economic growth.
Mahmoud Fawzi, Minister of Parliamentary, Legal, and Political Communication, reminded attendees that the Egyptian Constitution stresses the need for a competitive economic system. He referenced Article 27, which mandates standards of transparency, competition, and balanced growth, while also protecting consumers, workers’ rights, and various forms of ownership.
Mahmoud Momtaz, Chairperson of the ECA, outlined the authority’s accomplishments since the implementation of its 2021-2025 strategy. He noted that the ECA has reviewed over 1,350 cases across various sectors, including healthcare, education, and food products, and provided feedback on 105 draft laws and policies. This proactive approach has led to improvements in Egypt’s international rankings for competition policy, with the country’s status in indices such as those from the United Nations Economic and Social Commission for Western Asia (ESCWA) improving significantly.
Teresa Moreira, Head of the Competition and Consumer Policies Branch at UNCTAD, praised the ECA’s successful implementation of policies to boost competitiveness. She acknowledged the fruitful collaboration with the ECA in producing the report and highlighted ongoing efforts to establish training centers aimed at tackling monopolistic practices in Egypt, the Middle East, and Africa.
Willard Mwemba, CEO of the Common Market for Eastern and Southern Africa (COMESA) Competition Commission, commended Egypt’s commitment to UNCTAD principles, noting that Egypt is among the leading COMESA member states in adopting effective policies to combat monopolies and ensure a competitive market across the region.
