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Source:
الوطن
Agile Competition Agency
The article discusses the efforts of the General Authority for Competition in Saudi Arabia to strengthen its oversight of markets and promote fair competition. The Authority has proposed amendments to the Competition Law, including increasing financial deterrence by imposing fines ranging from 50,000 to 10 million riyals, and establishing a daily fine on entities that refuse to comply with the Authority's orders. Additionally, the amendments grant more flexible powers such as halting anti-competitive practices and temporarily removing violations even during ongoing investigations. The changes also expand oversight to include entities outside of Saudi Arabia that impact the domestic market, aiming to protect consumers and enhance competition. These reforms represent a significant step toward improving regulatory tools and increasing the effectiveness of market protection, positioning the Authority as a model of agility and flexibility in market regulation.
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