The Saudi Cabinet approved the new competition system, which aims to enhance the competition environment, combat monopolistic practices in the markets, sustain economic growth and create an attractive investment environment.
The General Authority for Competition in the Kingdom said that the new system deals with the rights of market participants and stimulating the growth of national industries.
The authority clarified that the new competition system encourages business enterprises and supports the effectiveness of precautionary measures and achieves justice for the merchant and consumer. Competition in the Kingdom.
The new system includes editorial and organizational updates in its contents that come in the context of diversifying effective tools that ensure the Authority enforces fair competition policies in the market with flexibility and optimal effectiveness and develop procedures for examining requests for economic concentration, including the mergers. And acquisition.
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cash dividends to Al-Othaim shareholders despite declining profits
