Saudi gets highest evaluation level in 2023 Competition Law Systems Report

08/05/2024 Argaam
Logo ofThe General Authority for Competition (GAC)

Logo of The General Authority for Competition (GAC)

Saudi Arabia achieved the highest evaluation level in the Competition Law Systems Report for 2023 by the United Nations Economic and Social Commission for Western Asia.

 

The Kingdom was rated “very strong” in 2023, up from “advanced” in 2020, the General Authority for Competition (GAC) said in a statement today, May 8.

 

The Competition Law Index is based on the maturity of eight key criteria. Saudi Arabia achieved a perfect score of seven for the index related to regulatory frameworks for economic concentrations.

 

Saad Al Masoud, spokesperson for GAC, stated this progress reflects the leadership's support for achieving Saudi Vision 2030's goals to enhance a sustainable business environment, boost economic growth, and increase consumer welfare.

 

He noted that this achievement stems from advancements in laws against anti-competitive practices, economic concentration reviews, and other efforts to maintain a fair and transparent competitive business sector environment.

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