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Ministry of Economy reviews new Competition

Regulation law

July 11, 2024 / 8:59 PM
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Sharjah24 - WAM: The Ministry of Economy has organised 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.
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
specialised in competition. This was to ensure the development of a modern,

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Competition-Regulation-law