The Board of Directors of the General Authority for Competition issued the anticipated Implementing Regulations to the new Competition Law issued by Royal Decree no. M/75 dated 29/6/1440H (corresponding to 6 March 2019). The New Law and the New Implementing Regulations became effective on 24 September 2019.
On 5 March 2019, the Council of Ministries approved a new Competition Law (the New Law) which was issued by Royal Decree No. (M/75) dated 6 March 2019 and was published in the Official Gazette on 29 March 2019. It will come into force 180 days following its publication date (i.e. towards the end of September 2019).
Twelve individuals from nine companies were fined a total of EGP 4.5 million (about USD 255,000) for their involvement in a cartel designed to lower prices and foreclose the market for chick production. The producers agreed to reduce the price of chicks over a period of two weeks in order to foreclose imports.