Saudi Arabia approves new competition law

Saudi Arabia’s Cabinet has ratified the new competition law, after reviewing the recommendations submitted by the Council of Economic and Development Affairs and Shura Council, the official Saudi Press Agency reported on Tuesday.

“The new competition law comes in line with the authority’s vital role, as it oversees the balance of all markets and economic sectors to ensure fair competition and provide a favorable investment climate,” said Mohammed Al Jasser Chairman of the General Authority for Competition.