Law on Competition 2018: Addition of Conditional Economic Concentration Provisions

Kim Linh

10:08, 11/07/2024

This is one of the noteworthy new contents in the Competition Law No. 23/2018/QH14 issued by the National Assembly on June 12, 2018. Enterprises will have the right to conduct economic concentration but must meet one or several specific conditions.

To be specific:

- Divide, separate, or sell a portion of the capital contribution or assets of the enterprise involved in economic concentration;- Control the content related to the purchase price, selling price of goods, services, or other transaction conditions in the contract of the enterprise formed after economic concentration;- Implement other measures to mitigate the potential anti-competitive effects in the market;- Implement other measures to enhance the positive impact of economic concentration.

The conditional approval for enterprises participating in economic concentration will be based on the content of the assessment and will be decided by the National Competition Commission.

More details can be found in Law on Competition 23/2018/QH14, which took effect on July 1, 2019, replacing Law on Competition 27/2004/QH11.

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