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7/16/24, 3:55 PM Everything you need to know about the UAE's competition regulation law
firm Squire Patton Boggs said in an earlier note.

Some of the responsibilities assigned to the committee include proposing the general

policy for protecting competition in the country and presenting it to the minister of
economy to take action, the ministry said in a statement on Thursday.

It is also responsible for scrutinising issues related to the application of the provisions of

this law and making recommendations to the minister.

Adding to the UAE’s global appeal

The new regulation has enhanced the UAE’s appeal as a prime destination for investment

as it pushes innovation and efficiency, boosts investors’ confidence and ultimately benefits

consumers through better products and services in the country, according to law experts.

Companies can now operate in a market where competition is based on merit rather than

market dominance, said Byron James, a partner at the UAE law firm Expatriate Law.

The UAE's new law sets itself apart by “By adopting a legal framework that aligns with
fostering greater collaboration between
federal and local authorities international standards, the UAE is positioning
Byron James, partner at Expatriate Law
itself as a leader in regulatory practices. This

move is likely to attract both local and international investors, boosting economic growth

and diversification,” Mr James told The National.

The introduction of this revamped competition regime is “protecting consumer interests

and boosting UAE’s global competitiveness”, said Mariam Sabet, competition and anti-

trust practice partner at law firm Al Tamimi & Company.

“Simply put, competition is a public good. In a competitive market, businesses are

incentivised to innovate, improve their quality and ultimately provide buyers with more

options,” Ms Sabet told The National.

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