Logo design of The General Authority for Competition (GAC)
Saudi Arabia accomplished the greatest examination level in the Competition Law Systems Report for 2023 by the United Nations Economic and Social Commission for Western Asia.
The Kingdom was ranked “extremely strong” in 2023, up from “sophisticated” in 2020, the General Authority for Competition (GAC) stated in a declaration today, May 8.
The Competition Law Index is based upon the maturity of 8 essential requirements. Saudi Arabia attained a best rating of 7 for the index associated to regulative structures for financial concentrations.
Saad Al Masoud, representative for GAC, mentioned this development shows the management’s assistance for accomplishing Saudi Vision 2030’s objectives to boost a sustainable organization environment, increase financial development, and boost customer well-being.
He kept in mind that this accomplishment originates from developments in laws versus anti-competitive practices, financial concentration evaluations, and other efforts to keep a reasonable and transparent competitive organization sector environment.