Egypt wins ‘National Strategy to Support Competition Policies and Competitive Neutrality’ award

The World bank and the International Competition Network have announced the awarding of the first prize to the Egyptian Competition Protection and Prevention of Monopolistic Practices Authority for promoting competition policies in 2023.

This is for the issuance and implementation of the "National Strategy to Support Competition Policies and Competitive Neutrality," endorsed by the Prime Minister, integrated into the state property policy document.

The strategy aims to enhance a free competitive environment, remove entry barriers, ensure equal competition for all market participants, and periodically evaluate the effectiveness of implementing competitive neutrality principles.

Key outcomes include the establishment of the High Committee for Competitive Neutrality, leading to corrective actions and effective solutions for competitive neutrality issues. The strategy has contributed to Egypt's improvement in competitiveness indicators.

The International Bank and Competition Network praised Egypt's strategy, considering it crucial for ensuring equal opportunities in markets. The strategy focuses on institutional and regulatory frameworks, promoting a competitive culture, and periodic evaluation of competitive neutrality effectiveness.

Dr. Mahmoud Moutaz, head of the Competition Protection and Prevention of Monopolistic Practices Authority, sees the award as a culmination of efforts to support competition policies. He emphasizes Egypt's commitment to creating a competitive economy, acknowledging the role of the private sector in comprehensive and sustainable development.

The strategic implementation includes the formation of the Higher Investment Council, ensuring effective application of competitive neutrality policies in line with Egypt's 2030 vision for a competitive and diverse economy. The state has undertaken efforts to strengthen the authority, adopting a 2021-2025 work strategy and amending its law to enhance its capabilities.

Moutaz appreciates the efforts of the authority's staff, emphasizing their significant contribution to supporting competition policies, monitoring markets, and promoting competition culture. The authority aims to establish competition rules, open markets, and ensure competitive neutrality for the benefit of citizens and economic entities.

This marks the third consecutive year that the Egyptian Competition Protection Authority receives an award from the International Bank and Competition Network, showcasing recognition for its efforts in supporting competition policies, especially during crises such as the COVID-19 pandemic.