Egypt competition authority to be granted more power

Egypt’s Competition Authority (ECA) is currently preparing a draft law that grants it more powers, enabling it confront monopolistic activities, said Sameh El-Torgoman, head of ECA.

El-Torgoman also stated that ECA has finished setting its strategic objectives for the coming period, as Egypt is in dire need for a business environment that enhances competition; benefiting both consumers and businesses.

He indicated that major reforms are currently being undertaken in ECA. Organisational and administrative structures will also be revisited. The project aims to modernise ECA, bringing it to par with international peer institutions.

Established in 2005, ECA is the only government body authorised in Egypt to oversee and assure free competition, including free entry to and exit from the market, based on economic efficiency. It is the entity that receives complaints and notifications. It also can initiate inspections when there is a question of legality or of malpractice that may harm competition.