Law No. 3 of 2005 on the Protection of Competition and the Prohibition of Monopolistic Practices represents a foundational piece of legislation in Egypt's efforts to modernize and regulate its economic landscape. Enacted by the People's Assembly and effective as of May 2005, the law seeks to safeguard competitive market dynamics by curbing anti-competitive conduct and preventing the abuse of market dominance.
The law establishes the Egyptian Competition Authority (ECA) as the primary regulatory body tasked with monitoring, investigating, and enforcing compliance. It outlines clear rules against collusive agreements, restrictive practices, and mergers or acquisitions that may harm market competition. Additionally, the law includes provisions for the extraterritorial application of its rules, emphasizing Egypt's commitment to fair competition even in cross-border transactions that impact the local market.
By fostering transparency and accountability, Law No. 3 of 2005 plays a crucial role in promoting consumer welfare, encouraging innovation, and supporting economic growth in alignment with global best practices.
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