Consistent with the economic policy which is based on the principles of competition which is adopted by the Kingdom of Saudi Arabia due to considerable developments are taking place in the economic arena. To strengthen the climate of competition in the business sector, a Royal Decree No. M/25 has been issued on 4/5/1425H approving the Competition Law. For implementing this Law a Royal Order No A/292, dated 6/9/1426H was issued regarding the formation of the Council of Competition Protection. The Council of Competition Protection is an independent council which is in charge of supervising the implementation of the Competition Law that aims specifically at protecting and encouraging fair competition and combat monopolistic practices that affect Lawful competition. In order to achieve these goals, the Council performs a number of functions and duties such as approving the merger and acquisition of firms that resulting in a dominant position in the market, Ordering investigation, collecting evidences pertaining to complaints practices in violation of provisions of the Competition Law, and ordering prosecution. The Council of Competition Protection will maintain the competitive environment for the business sector with justice and transparency in the local markets, which would enable businesses to compete freely as well as enable the consumers to benefit from the fair competition. As per the wish to increase awareness of the importance of competition and spreading the competition culture, the Council will communicate with the Business Sector practicing in the Saudi Market. The Council will explain the rights and commitments of the Business Sector in accordance with the Competition Law by means of preparing and holding introductory workshops and seminars.
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Contact Information
Address: Almalz-Omar bin AL-Khatab Street-North of Train Station P.O.Box 5729 Riyadh 11127
Phone: 966-11-4774312
Fax: 966-11-4776939
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