Page 468 - MOE ENGLISH PR REPORT - MAY 2025 ( Part 2)
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5/22/25, 2:21 PM UAE, Egypt Sign MoU To Protect Competition, Prevent Monopolistic Practices
of joint training programs and workshops, the exchange of information and specialized studies, and
capacity building.
The agreement enables both parties to benefit from the United Nations Conference on Trade and
Development (UNCTAD) Competition Training Center for the Middle East and Africa, based in
Cairo.
The MoU was signed on the sidelines of the Egyptian Competition Authority's annual conference in
Egypt by Safia Hashem Al Safi, the UAE's assistant undersecretary for the Commercial Control and
Governance Sector, and Mahmoud Momtaz, chairman of the ECA.
The assistant undersecretary said that the cooperation with the Egyptian side will support efforts to
create more transparent markets, enhance investor confidence, and serve the interests of consumers
in both brotherly countries. She explained that the memorandum represents an effective framework
for strengthening institutional cooperation between both sides in competition protection.
Al Safi added that the agreement contributes to the development of related policies and procedures,
positively impacts the business environment in both countries, enhances their ability to confront
challenges related to monopolistic practices, and supports sustainable economic development
efforts.
Top international investor
The UAE is Egypt’s second-largest trading partner and its biggest international investor, according
to the Egyptian Commercial Service (ECS).
This partnership is reflected by an investment volume of $9.6 billion in 2023 and the presence of
over 1,600 Emirati companies operating across various sectors in Egypt, reported WAM, citing ECS
data.
In February 2024, the two countries signed an agreement for the UAE to invest $35 billion to
develop the Ras El-Hekma coastal region.
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