Dr. Mohamed Maait, Executive Director and Arab representative at the International Monetary Fund, emphasized that while the state has the right to participate in the economy, it must carefully identify strategic sectors. He noted that what is considered strategic today may not remain so in the future, and such engagement must be based on consensus and alignment with national priorities.
During an interview on “Studio Extra,” broadcast by Extra News, Maait stated that the private sector is generally more efficient in management and delivers better outcomes. However, he stressed the importance of establishing sound regulatory frameworks to prevent interference and ensure fair competition and consumer protection. He added that implementing these laws effectively is crucial to building public trust in the private sector’s positive role.
He continued by warning against monopolistic practices that could harm consumers, noting that while the majority of private sector actors are ethical and avoid monopolistic behavior, a small minority may act irresponsibly. He urged all businesses to maintain fair pricing and avoid anti-competitive practices.
— News Original —
Maait: The state has the right to engage economically, provided strategic sectors are clearly defined
Dr. Mohamed Maait, Executive Director and Arab representative at the International Monetary Fund, affirmed that many believe the state has the right to engage in economic activities, noting that it is one of its prerogatives. However, he emphasized the need to carefully select sectors that are deemed strategic, as some are not. Even strategic sectors require alignment, as what is strategic today may not be strategic tomorrow.
Maait added during his interview on “Studio Extra,” broadcast on “Extra News”: “The private sector is more effective in management and achieves better outcomes, but laws regulating competition and consumer protection must be free of interference, ensuring healthy competition and proper consumer safeguards. These laws must be implemented on the ground so that people are convinced they benefit from the positive role of the private sector without negative consequences.”
He continued: “Monopolies must not be allowed to harm people. I say that the vast majority of the private sector are patriotic and do not monopolize, but there is a small group that may tarnish the image of the majority, who know well that they must operate without monopolistic practices and maintain fair pricing.”