Regulation of Competition
At the Ministry of Economy,
We Aim to Promote Fair Market Competition to Support Economic Growth
The Ministry of Economy seeks to promote fair competition in the markets, prevent monopoly, ensure the integrity of commercial transactions, address alliances and acts harmful to competition, control economic concentration processes to ensure that competitions in all economic sectors are not weakened, adopt best practices in this area, and enforce laws and legislations related to the regulation of competition efficiently and effectively.
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The Role of Ministry of Economy in Regulating Competition
The Ministry of Economy undertakes a set of mandates and competencies related to competition as defined by the Federal Law on the Regulation of Competition. The Ministry performs the following functions:
Anti-competitive Practices
Restrictive Agreements
Agreements signed between establishments to abuse, restrict, or prevent competition, in particular those agreements that aim to fix purchase or sale prices of goods or services by causing increase, reduction, or fixing of prices, thereby adversely affecting competition, as well as collusion in bids or proposals in tenders, and other supply offers.
Abuse of a Dominant Position
A dominant position is the situation that enables the organisation, individually or in association with other organisations, to control or influence the market, carrying out any acts or actions that lead to the abuse of this position in order to prejudice, restrict, or prevent competition.
Economic Concentration
Any act that results in a whole or partial transfer (merger or acquisition) of title or usufruct of property, rights, shares, stocks, or obligations of an organisation to another organisation which would enable an organisation or a group of organisations to have direct or indirect control over an organisation or a group of other organisations.
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Federal Law No (4) of 2012 on the Regulation of Competition
Federal Law No (4) of 2012 on the Regulation of Competition aims to protect and promote competition and anti-monopoly practices by providing a stimulating environment for organisations to enhance efficiency, competitiveness and consumer interest and achieve sustainable development in the UAE, while maintaining a competitive market governed by market mechanisms, in accordance with the principle of economic freedom, by prohibiting restrictive agreements, prohibiting the acts and behaviours that lead to the abuse of a dominant position, controlling economic concentration operations, and avoiding anything that would endanger, limit or prevent competition.
