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GUC Hosts the Head of the Competition Protection and Prevention Practices Authority

In Academic
Monday, May 31, 2021

 

Upon the invitation of the GUC, the Head of the Competition Protection and Prevention of Monopolistic Practices Authority Dr. Mahmoud Momtaz, gave a lecture to GUC students on the Authority’s law and the definition of competition policies and their importance in enhancing the efficiency of the national economy.

 

As the Egyptian body’s aim is to spread the culture of competition and enhance awareness of the provisions of the law within society  to target groups including students as well as the academic community, which contributes to creating a generation aware of competition policies.

 

During his lecture, Momtaz also introduced the definition of competition policies and law, forms of monopolistic practices such as vertical and horizontal agreements, abuse of the dominant status and the tools and methods of combating them, the negative impact of such practices on public money, the control of mergers and acquisitions, tools for examining cases that harm competition and preventing monopolistic practices to ensure enhanced efficiency of the national economy, improving the environment for economic activity, stabilizing markets, in order to ensure the interest of consumer welfare and his access to goods and services at a fair price.

 

He also reviewed the development of competition policies and related laws,  global legislation in general and in Egypt in particular, pointing to the benefits of freedom of competition in providing goods and services with higher quality at lower prices, diversity and innovation, attracting local and foreign investments, and protecting small and medium companies from any monopolistic practices, which supports the national economy as a whole.  He also explained the difference between markets that witness monopolistic and oligopolistic practices of goods and services versus open markets.

 

He explained the agency's work strategy in the current period which is based on three main axes: Enforce the competition protection law, strengthen policies and legislation that support freedom of competition and ensure competitive neutrality, and raise and strengthen the culture of competition in society, within the framework of the strategic plan set by the state to achieve the principles and goals of sustainable development and Egypt’s Vision 2030.