Abstract: Egypt has been considering the enactment of a competition law since 1995, and finally the law was issued in 2005. Three years down the road in 2008, the law was reformed. Consequently the legislation provides besides down raiding as an investigative tools, a partial leniency program. Sanctions have increased and the fines applied to fight against the violations are substantially higher. As for the merger control rules, Egypt is still lagging behind other jurisdictions and does not block transaction in case it may harm the free competition. The task of creating and maintaining an active competition policy seems to be challenging in Egypt, particularly in the presence of many impediments such as the lack of resources, weak institutional environment and regulatory policies prevailing in the market. Competition policy in Egypt is not just a luxury but constitute a critical necessity for creating a fair and open market economy. Given the potential importance of this legislation there is much effort needed to the development of this law and its enforcement mechanisms.
Publication Year: 2010
Publication Date: 2010-05-14
Language: en
Type: article
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