Egypt to Deploy Digital Tools for Enhanced Market Oversight
CAIRO, Egypt (AP) – Egypt’s Ministry of Supply and Internal Trade is moving to digitize its market inspection and classification systems, a move officials say will improve governance, transparency, and consumer protection. The initiative, unveiled this week, aims to modernize oversight of the country’s internal trade framework through data analytics and real-time monitoring.
Minister of Supply and Internal Trade Sherif Farouk emphasized the importance of leveraging modern technology to improve market management efficiency and strengthen trust between citizens and state institutions. “Developing market oversight tools using modern technology…contributes to better governance,” he stated.
The planned digital platform will streamline field inspections and improve the mechanisms for monitoring markets and commodity outlets. A key component will be a digital classification system, evaluating market participants based on compliance and adherence to trading and pricing regulations.
Authorities also plan to integrate citizens into the oversight process through the “Haqqi” program, allowing them to submit complaints and observations via digital platforms. These reports will be directly linked to field inspection systems, promising quicker responses and improved service delivery.
The new system will integrate with existing digital projects within the ministry, including the “Price Radar” system for real-time price tracking and the “Digital Inspector Card” application, which electronically documents field inspections. This integration is intended to enhance transparency and regulatory efficiency.
The move comes as governments worldwide increasingly turn to digital solutions to improve market regulation and address concerns about price volatility and consumer rights. The Ministry of Economy in the United Arab Emirates recently launched a similar national platform for monitoring essential commodity prices, according to reports.
Farouk added that the digital systems will enable faster decision-making and more effective responses to practices that could destabilize markets or infringe upon consumer rights. The Ministry did not specify a timeline for the full implementation of the new system.
