● "Competition policies provide a robust foundation for building a competitive and investment-friendly economy," says H.E. Dr. Rania A. Al-Mashat.
● The government is working to enhance competitiveness and eliminate barriers for domestic and foreign investors.
H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the Voluntary Peer Review Report of Egypt’s Competition Law launch event. The event, organized by the Egyptian Competition Authority in collaboration with the United Nations Conference on Trade and Development (UNCTAD), was held under the auspices of H.E. Prime Minister Dr. Mostafa Madbouly. Attendees included H.E. Dr. Mahmoud Momtaz, Chairman of the Egyptian Competition Authority; H.E. Dr. Sherif Farouk, Minister of Supply and Internal Trade; H.E. Alaa Farouk, Minister of Agriculture and Land Reclamation; H.E. Ahmed Kouchouk, Minister of Finance; H.E. Counselor Mahmoud Fawzi, Minister of Parliamentary, Legal, and Political Communication; and other stakeholders, along with members of the House of Representatives and Senate.
During her remarks, H.E. Dr. Al-Mashat emphasized that empowering the private sector and attracting sustainable investments are top priorities for the Egyptian government. She noted that the private sector is the driving force behind inclusive and sustainable macroeconomic growth, adding that the event illustrates how fostering public-private partnerships is a crucial tool for shaping the economic future of developing countries and driving innovative solutions to enhance the competitiveness of emerging and low-income economies.
H.E. Dr. Al-Mashat stressed that improving the business environment and creating an investment-friendly climate are central to the Egyptian government’s priorities. Egypt has adopted principles of transparency, good governance, and accountability, while continuing to enhance data quality, promote qualitative economic growth, and implement measures that enable investors to leverage the country’s comparative advantages and competitiveness.
She highlighted the importance of legislation in achieving national objectives and protecting stakeholders' rights, referencing Egypt’s Competition Protection and Anti-Monopoly Law (Law No. 3 of 2005), which was amended most recently in 2022. The law is designed to safeguard competition, promote free economic activity, and create an efficient, competitive environment. It includes provisions to address monopolistic practices, regulate economic concentrations, reduce market dominance, eliminate entry and expansion barriers, and enforce transparency and accountability in line with the government’s efforts to encourage investments and minimize challenges.
H.E. Dr. Al-Mashat pointed out that international financial institutions, such as the World Bank, the European Investment Bank, and the African Development Bank, consistently require the use of competitive international bidding processes for the procurement of goods, works, and non-consulting services, ensuring fairness in economic opportunities funded by these entities.
She also highlighted the 2023-2027 UN Sustainable Development Cooperation Framework (UNSDCF), launched in 2023, with the participation of UNCTAD. This framework aligns UN agency projects and activities in Egypt with national development priorities, focusing on transparency, good governance, and the rule of law as part of its fourth strategic priority. H.E. Dr. Al-Mashat commended UNCTAD’s contributions to several initiatives, including the implementation of the Sharm El-Sheikh Guide for Just Financing, launched during COP27, the NWFE Platform, and the Integrated National Financing Framework (INFF).
Dr. Al-Mashat explained that the voluntary peer review process offers a unique opportunity to examine and draw lessons from the experiences and challenges faced by other countries in implementing and enforcing competition policies. The process involves experts from developed and developing countries with practical experience in competition law enforcement.
She added that the Egyptian government has outlined four main priorities in its 2024-2027 work program to enhance private sector participation in development. These priorities include building a competitive, investment-friendly economy; facilitating private sector participation in development; advancing human capital and technological progress; and continuing structural and institutional reforms.
H.E. Dr. Al-Mashat affirmed that competition policy is a cornerstone of building a competitive and investment-friendly economy, which the government seeks to achieve by removing obstacles for local and international investors. She referenced the State Ownership Policy Document, which underscores the government’s commitment to competitive neutrality among all market stakeholders. She noted that competition policies play a pivotal role in ensuring a level playing field, encouraging businesses to innovate and grow.
In her concluding remarks, H.E. Dr. Al-Mashat cited the 2023 report by the UN Economic and Social Commission for Western Asia (ESCWA), which recognized Egypt as one of only two Arab countries to achieve an “advanced” level in competition law development. This classification reflects the alignment of Egypt’s legal framework with international best practices, demonstrating the government’s commitment to enhancing market efficiency and improving the business environment.