Competitive neutrality increases investments, enhances economic growth: Egypt

Mahmoud Momtaz, the head of the Egyptian Competition Authority (ECA), has said that the economic policy of the Egyptian state is based on supporting a competitive environment for economic activities.

He added that Article 27 of the Egyptian Constitution stipulates that the economic system aims to achieve prosperity through sustainable development and social justice, to guarantee enhancing the true growth rate of the national economy, the living standards, increasing job opportunities, reducing unemployment rates, and eliminating poverty.

During the conference on enhancing competitive neutrality on Wednesday, he stated that the economic system adheres to the standards of transparency and governance. It also works to support competition, encourage investment, create balanced growth geographically, sectorally, and environmentally, and to prevent monopolistic practices, taking into account financial balance, the fair tax system, and market mechanisms, which guarantees different types of ownership and strikes a balance between the different interests of different parties.