Page 138 - MOE ENGLISH PR REPORT - JUNE 2024

imitating original goods and commercial fraud in all its forms and types in a way that ensures the
establishment of the foundations of fair competition in the country, and enhances its leadership
in global competitive indicators and reports.

Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, confirmed that this law
represents a new milestone to enhance the state’s efforts in shifting towards a new economic
model based on fair competition and innovation, developing the regulatory and legislative
environment for the economic sector, and enhancing the business environment and its
governance, in line with the strategic objectives of the Ministry of Economy to develop The
regulatory and legislative environment for the economic sector.
He said: “This law, which replaced the previous legislation to combat commercial fraud, comes
to enhance the competitiveness of the business environment for companies and trademark
owners in the country, stimulate innovation in business, support the protection of intellectual
property, and at the same time align with the federal legislation for “consumer protection”,
“trademarks”, “copyright”, “neighbouring rights” and “commercial agencies”, noting that its
provisions were developed with a proactive and flexible approach that anticipates future trends.

The most prominent outcomes of the law include providing a suitable and safe environment for
purchasing by combating counterfeit, imitation and spoiled goods, regulating the procedures for
withdrawing counterfeit, imitation or spoiled goods from markets and warehouses and refunding
their value, and establishing the “Supreme Committee for Combating Commercial Fraud” which
will undertake the enforcement of policies to combat commercial fraud in all markets of the
country in coordination with the relevant federal and local authorities.

https://pledgetimes.com/economy-620-violations-of-fraud-and-counterfeiting-of-trademarks-
since-the-beginning-of-2023/