Page 563 - MOE ENGLISH PR REPORT - JULY 2024

7/15/24, 3:24 PM UAE announces competition law to regulate market
According to the ministry, it will conduct inspections as well as act on complaints from the public. Fines and
penalties for violators are under review and waiting for Cabinet approval.

The new law is part of the Federal Decree Law promoting healthy competition in the market while combatting
monopolistic practices as well as “harmful economic concentration of consumers in the UAE.”

The Competition Regulation Committee has been tasked to propose the general policy to apply the provisions of
the law.

“Its articles address all conditions that may undermine, limit, prevent or restrict competition,” said Abdullah Ahmed
Al Saleh, Undersecretary of the Ministry of Economy. ICA/Expat Media

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