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7/16/24, 3:55 PM Everything you need to know about the UAE's competition regulation law
Everything you need to know about the UAE's competition regulation law
Ministry of Economy says new law has helped improve the country's regulatory and legislative framework
Alkesh Sharma
Abu Dhabi
12 July, 2024
The UAE has made significant progress in strengthening the country's regulatory and
legislative framework since implementing the competition regulation law last year,
the Ministry of Economy has said.
The Federal Decree-Law No 36 of 2023 has promoted fair competition, increased scrutiny
of monopolistic trade practices in the Arab world's second-largest economy and helped in
stemming anti-competitive activities, the ministry said in a media briefing this week.
The ministry co-ordinated with 14 federal and local government entities in the Emirates,
Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, said on Thursday.
The law, which has replaced earlier legislation of 2012, aims to maintain a competitive
market “in line with the principle of economic freedom, by prohibiting agreements,
conducts and acts that constitute abuse of a dominant position, monitoring all economic
concentrations and avoiding any act that would distort, lessen, restrict or prevent free
competition”, the ministry said.
The new law aims to combat “This was to ensure the development of a
monopolistic practices by ensuring a
stimulating environment for enterprises modern, comprehensive legislation … ensuring
Abdullah Ahmed Al Saleh, Undersecretary of
the Ministry of Economy consumer protection from anti-competitive
practices … the promotion of economic
efficiency, marketing and research and development are also key goals,” Mr Al Saleh said.
As the new law marks more than six months since its enactment, The National reviews its
key objectives, the progress achieved so far and how it fares compared to other
jurisdictions in the region.
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