Egypt’s ECA reaffirms commitment to fair competition

Mahmoud Momtaz, Head of the Egyptian Competition Authority (ECA), highlighted on Sunday Egypt’s unwavering dedication to fostering a level playing field for businesses and ensuring market transparency. This commitment is backed by strong leadership support and a comprehensive strategic plan.

Momtaz emphasised the recent legal amendments that empower the ECA with broader authority, including the ability to pre-emptively assess economic mergers and acquisitions. This, combined with the successful implementation of the ECA’s 2021-2025 strategy, helps the organisation enforce competition laws effectively and combat anti-competitive practices.

“The first three years of the strategy have seen remarkable progress, exceeding targets in areas like law enforcement, promoting competitive neutrality, and combating monopolies. Egypt has received international recognition, including the 2023 top prize from the World Bank and the International Competition Network for its competitive neutrality strategy,” he added.

Additionally, the UN Economic and Social Commission for Western Asia (ESCWA) significantly upgraded Egypt’s ranking in competition-related areas, according to Momtaz.