Competition Law

The Importance, Objectives, and Outcomes of the Competition Law

The importance of the Competition Law lies in the fact that it regulates all commercial practices in the market, and thus, it does not pertain to regulating a specific activity such as the Companies Law or the Trademarks Law. The Competition Law aims to protect and encourage fair competition, and to combat and prevent monopolistic practices that affect legitimate competition or consumer interests; thereby leading to the improvement of the market environment and the development of the economy.

In this regard, the Competition Law seeks to improve market efficiency and create a competitive business environment within a framework of fairness and transparency through: protecting and encouraging fair competition, combating and preventing monopolistic practices that affect legitimate competition and consumer interests, enhancing the availability of goods with high quality and diverse prices, stimulating innovation and investment to support economic growth; thus aiming to achieve justice and balance between the interests of producers, distributors, and consumers.

It is worth mentioning that, the desired outcomes of the Competition Law include: encouraging competitive prices, diversifying consumer choices, enhancing innovation and product development, reducing monopolistic practices that restrict competition, and supporting economic growth and prosperity.