Economic Ministerial Group Agrees to Amend Law on Competition ProtectionSource: www.export-egypt.com 1/22/2014, Location: Africa |
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The economic ministerial group in Egypt has agreed to introduce essential amendments to the law on competition protection and monopoly prevention.
The amendments should help upgrade market performance and achieve justice, Industry Minister Munir Fakhri Abdel-Nour said on 21/1/2014. The Egyptian Competition Authority (ECA) will be more independent and will have more powers to better enforce law in a way that would create a healthy economic environment based on fair competition and free market regulations, Abdel-Nour said in a workshop organized by the ECA. The new amendments take interests of investors, producers and consumers into consideration, he noted. An investment-friendly climate will help give the Egyptian economy a shot in the arm, he said. The amendments will be discussed in a Cabinet meeting to refer them to the president for ratification as soon as possible, Abdel-Nour said. |
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