CAIRO- CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba said the private sector will play a more effective role in the coming stage in promoting investment and updating the Egyptian investment map.
He stressed that competition protection and investment flow are closely related, highlighting the neutrality of government bodies in regulating business practices.
He noted that the investment law is complementary to the law of competition protection and preventing monopoly practices.
He referred the to GAFI’s efforts to settle investment disputes.
He made the remarks during the opening session of the conference for promoting competition neutrality.
During the conference, Board Chairman of the Egyptian Competition Authority Mahmoud Momtaz reviewed the national strategy for supporting competition policies which was a key part of the State Ownership Policy Document and the Egypt strategy 2030.
The two strategies focus on the role played by the private sector in achieving economic development, he said, noting that promoting competitiveness helps increasing productivity in the Egyptian market by 50 percent and raising Gross Domestic Product by 2.5 per cent.
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