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In Environment

Egypt: A voluntary carbon market

by and 3 Mins Read

A recent Prime Ministerial Decree No. 4664 of 2022 was published on 25 December 2022, incorporating new provisions to the executive regulations of the Capital Markets Law No. 95 of 1992. The Decree provides for the establishment of a voluntary carbon market platform within the Egyptian Stock Exchange for the trading of carbon emissions reduction certificates (CERs). The CERs are tradeable financial instruments for greenhouse gases and are to be issued in favor of entities establishing projects reducing greenhouse gas emissions after obtaining the approval of the relevant authorities which are not currently specified. Each CER unit shall represent the equivalent of one metric ton of carbon dioxide reduced.

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In Antitrust / Competition

Egypt adopts a new Pre-Merger Notification Regime

by and 5 Mins Read

The Egyptian Parliament has approved amendments to the Law number 3 of 2005 on the Protection of Competition and the Prohibition of Monopolistic Practices (ECL), introducing for the first time a mandatory pre-merger notification regime in Egypt. Until now, the ECL had only a post-merger notification system which did not give the Egyptian Competition Authority any powers to assess, approve or block a transaction. The amendments are expected to be published in the Official Gazette and enter into force during December 2022.

In Antitrust / Competition

Egypt: The Competition Authority issues its first retail price maintenance and Most Favoured Nation clauses infringement decisions under the Egyptian Competition Law

by and 5 Mins Read

In two recent cases, the Egyptian Competition Authority (ECA) issued infringement decisions against two dominant companies. In the first case, the ECA established that a company operating in the yeast industry has abused its dominance in a number of ways, including restricting passive sales between distributors and also engaging in retail price maintenance. In another case, the ECA was against a food delivery online e-platform for abusing its dominance by engaging in Most Favored Nation clauses with the restaurants in violation of Article 8 of the Egyptian Competition Law No. 3 for 2005.

In Egypt

Egypt: Green hydrogen and green ammonia projects to benefit from state support

by 6 Mins Read

The government of Egypt has now expressly recognized the production, storage and export of green hydrogen and green ammonia among the areas falling within the state’s economic development strategy. It has also passed a decree that would allow green hydrogen and green ammonia projects to benefit from a wide range of state support under the country’s existing Investment Law No. 72 of 2017, including tax incentives. This is a key development for Egypt’s hydrogen economy.

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In Cybersecurity, Data and Tech

Egypt: Egypt issues new data protection law

by and 10 Mins Read

After several years of debate, the Egyptian government has introduced the Republic’s first standalone data protection law, which aims to regulate and protect citizens’ data online. On 15 July 2020, Resolution No. 151 of 2020 (the Law) (available in Arabic here) was published in the Official Gazette. The provisions under the new Law are modeled on the EU General Data Protection Regulation (GDPR) and the Law adopts similar concepts and definitions. It is hoped that the new Law will help Egypt attract foreign investment by increasing consumer confidence in electronic data processing and setting clear parameters for companies looking to capitalize on the growth of the digital economy.

In Egypt

Egypt: New mandatory license for all entities involved in any importation of food

by and 4 Mins Read

What has changed

On 16 July 2020, the Board of Directors of the National Food and Safety Authority (“NFSA”) issued a decision No. 6 for 2020 setting rules for regulating the importation of food in Egypt (the “Decision”). Before the issuance of this Decision, imported food was subject to the general standard requirements of importation license. However, this Decision prohibited any food facility or food importer, whether a natural person or a company to undertake any activity of food importation without obtaining the prior license from the NFSA.

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In Egypt

Egypt: New mandatory license for all entities involved in any importation of food

by and 4 Mins Read

What has changed

On 16 July 2020, the Board of Directors of the National Food and Safety Authority (“NFSA”) issued a decision No. 6 for 2020 setting rules for regulating the importation of food in Egypt (the “Decision”). Before the issuance of this Decision, imported food was subject to the general standard requirements of importation license. However, this Decision prohibited any food facility or food importer, whether a natural person or a company to undertake any activity of food importation without obtaining the prior license from the NFSA.

In Africa

Coronavirus: A Quick Guide for Employers in EMEA

by , , , , , , and 2 Mins Read

Baker McKenzie’s EMEA Employment and Compensation Team is pleased to provide you with this quick guide for employers, dealing with 11 of the most pressing issues employers are currently faced in light of the Coronavirus outbreak across 19 European jurisdictions. In the words of our French colleagues: “Pas de Panique”…

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