Overview of the Egyptian Competition Law
The Egyptian Competition Law was promulgated by Law 3/2005. The Law aims to ensure that economic activity does not prevent, cripple, or harm freedom of competition. Basically, the Law handles the behavior of persons doing business in the market. A person’s market share shouldn’t constitute a violation unless one of the violations mentioned in the Law is committed. This corresponds with the very name of the Law, as it aims to prevent monopolistic practices, not a monopoly.
Egypt’s New Investment Laws
On 12 March 2015, Presidential Decree 17/2015 was issued to introduce substantial amendments to the Investment Law 8/1997 (Investment Law). It also amended certain provisions of the Companies Law 159/1981 (Companies Law), the Sales Tax Law 11/1991 (Sales Tax Law), and the Income Tax Law 91/2005 (Income Tax Law). The amendments generally aim at attracting new investments to Egypt through increasing the chances in restoring confidence in Egypt’s investment climate, offering further incentives and guarantees, removing obstacles, streamlining the procedure taking into consideration the existing impediments for foreign and domestic investment.