Page 506 - MOE ENGLISH PR REPORT - JULY 2024

7/16/24, 3:55 PM Ministry of Economy reviews new Competition Regulation law and its role in developing regulatory & legislative frameworks to prom…

BUSINESS

Ministry Of Economy Reviews New Competition Regulation Law And

Its Role In Developing Regulatory & Legislative Frameworks To

Promote Competition In The Country

By Editor_wr On Jul 13, 2024

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The Ministry of Economy organized a media briefing to review the Federal Decree-Law No. 36 of 2023 on competition
regulation, which aims to promote and protect competition in the country, combat monopolistic practices, counter

harmful economic concentration of consumers, support the growth of economic sectors and boost productivity, thus
enhancing the country’s attractiveness to domestic and foreign investments.

H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, said: “The law marks a new milestone in
the UAE’s efforts to develop a leading legislative system for competition in accordance with global best practices. It

provides a comprehensive legal framework to enhance the role of competition in the growth of the national economy
and the business environment in the country.”

He added: “The preparation phase of this legislation saw concerted national efforts. The Ministry of Economy followed

a proactive, flexible and forward-looking approach in its development in cooperation and coordination with 14 federal
and local government entities in the country, in addition to drawing on international reports and studies specialized in

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