Saudi Arabia’s competition enforcement will get greater leeway and independence to step in and take action when dealing with violations, Mohammed Al Jasser, chairman of its board of directors, said in an interview in Riyadh. The new law won the approval of the Saudi cabinet last week.
“What we need is to ensure that competition is unhindered and that any violators are taken to task,” said Al Jasser, who’s also a former central bank governor.
“This is a dynamic economy, we cannot stay stagnant,” he said. “We have learned a lot during the previous period. So we are updating, reinvigorating the law.”
Under the revamped rules, the authority will wield powers that it says will make punishments more flexible and effective. One of the changes will eliminate the possibility of permanently canceling company licenses to avoid reducing the number of competitors in a market.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Business Secretary Calls for More Agile Competition Regulator
Feb 13, 2025 by
CPI
Germany’s Antitrust Regulator Raises Concerns Over Apple’s App Tracking Policies
Feb 13, 2025 by
CPI
$60 Billion Nissan-Honda Merger Falls Apart
Feb 13, 2025 by
CPI
DOJ Moves to End Protections for Three Regulatory Agencies
Feb 13, 2025 by
CPI
Meta to Allow Rivals to List Ads on Facebook Marketplace Following EU Fine
Feb 13, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon