Friday 04 Apr

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Momtaz: Competition protection key tool for attracting investment


Momtaz: Competition protection key tool for attracting investment

As part of the National Council for Human Rights' commitment to promoting a balance between human rights and sustainable economic development, and in implementation of the Economic Committee's action plan, and as part of the Egyptian Competition Authority's commitment to promoting and enhancing a culture of competition among various segments of society, the Council and the Authority organized a discussion session titled "Human Rights and Fair Competition: Towards an Inclusive and Sustainable Economic Environment" at the Council's headquarters in the Fifth Settlement.

The session was opened by Ambassador Moushira Khattab, Chairperson of the National Council for Human Rights, Dr. Mahmoud Momtaz, Head of the Egyptian Competition Authority, a number of advisors and department heads from the Authority, and Dr. Mohamed Mamdouh, member of the National Council for Human Rights and Secretary of the Economic Committee.

Moushira Khattab emphasized that achieving fair competition is one of the fundamental pillars of ensuring an economic environment that respects human rights. She noted that promoting fair competition contributes to achieving sustainable development and ensuring equal opportunities for all segments of society.

Dr. Mahmoud Momtaz stressed that protecting competition is a key tool for achieving economic justice, stabilizing the economy and its growth, increasing competitiveness and diversity, attracting more local and foreign investments, improving the quality of life of the Egyptian citizen, improving his standard of living, eliminating poverty, providing job opportunities for citizens and ensuring their access to goods and services at lower prices and of higher quality. He reviewed the agency’s efforts with regard to monitoring markets and various economic sectors, especially those that directly affect citizens, such as the health, education and food sectors.

Dr. Mohamed Mamdouh, said that fair competition plays a fundamental role in supporting economic and social human rights, stressing the need to achieve a balance between economic growth and ensuring a fair distribution of opportunities. He explained that enhancing governance and transparency in economic policies is one of the key pillars of ensuring a fair and inclusive economic environment.

The session witnessed diverse participation from members of both chambers of Parliament, economic experts, party representatives, and a number of human rights and economic associations.