GAC approves 172 economic concentration applications in 2023

24/01/2024 Argaam
Logo ofThe General Authority for Competition (GAC)

Logo of The General Authority for Competition (GAC) 


The General Authority for Competition (GAC) announced the summary of its performance for 2023 regarding applications for economic concentration, which amounted to 313 applications.

 

The authority issued 172 no-objection certificates during 2023, down 2.3% year-on-year (YoY), according to a statement.


Acquisitions dominated the largest number of economic concentration applications reaching 143, or 83% of the total, the authority added.

 

Details of Economic Concentration Applications in 2023

Type of Application

2022

2023

Change

Under study

11

10

(9%)

No required to be reported

128

128

--

Rejected

1

--

--

No-Objection

176

172

(2%)

Pending

--

3

--

Total applications

316

313

(1%)

 

The manufacturing industries sector accounted for 23% of total applications. It was followed by information and telecommunications with 17%, then professional, scientific and technical activities with 8%.

 

Economic Concentration Applications by Sector

Sector

Percentage

Manufacturing

23%

Information and telecommunications

17%

Professional, scientific, and technical activities

8%

Financial activities and insurance

7%

Other services activities

46%

 

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