Saudi competition law imposes no penalties on dominant firms

Saudi Arabia’s new competition law will not impose penalties on dominant firms that have a 40 percent market share or more, Abdulaziz Al-Obaid, director of legal affairs at the General Authority for Competition (GAC), told Argaam in an exclusive on Sunday.

“The General Authority for Competition will not impose penalties on firms that hold a market share of 40 percent or more. It rather assigns certain responsibilities to such companies,” Al-Obaid said.

“The authority only imposes penalties, when mega institutions violate applicable rules, such as, cutting supply of some commodities or market services, linking commodities, applying customer discrimination, or violating commercial terms,” he added during a press conference in Riyadh.