Centre pledges to combat anti-competitive business practices
Published: 01:09 PM,Sep 19,2023 | EDITED : 06:09 PM,Sep 19,2023
(Picture for illustration only)
The Competition Protection and Monopoly Prevention Centre, operating under the auspices of the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), has pledged to work closely and collaboratively with the local business community to combat anti-competitive practices in the Omani marketplaces.
According to a high-level representative, the Centre will be focused on the importance of fairness and responsible business in business.
Nasra al Habsi, Assistant General Manager, acknowledged that some types of tenders, which may stipulate certain minimum criteria, say, in support of Omanisation, in-country value (ICV) creation, and so on, may shut out some companies from bidding. While such stipulations are in the strategic national interests, other practices that are inherently anti-competitive will not be acceptable.
“There are certain practices that can have adverse effects on fair competition within the community. It's generally understood among the local population that these dynamics exist, even if they operate on a relatively small scale. We must take accountability for our actions, recognizing that our objectives may not always align perfectly with those of the authorities,” the official said.
On Monday, the Centre unveiled a major initiative on the theme, ‘Together to Ensure Competition’ to raise awareness about the Competition Protection and Anti-Monopoly Law in Oman, which aims to promote the development of competitive markets and economic freedom.
The Competition Protection and Anti-Monopoly Law encompasses regulations crafted to thwart anti-competitive practices, curb monopolies, tackle dumping, and implement measures for compensation and prevention. The campaign's overarching mission is to nurture competitive markets and strengthen an environment that champions economic freedom.
In August 2020, MoCIIP took over all regulatory duties outlined in the Competition Law. To enhance this role, they introduced Executive Regulations in January 2021 through Ministerial Decision 18/2021. These regulations offer more detailed criteria for identifying prohibited practices under the Competition Law and specify when arrangements must be submitted to their office for approval.
According to a high-level representative, the Centre will be focused on the importance of fairness and responsible business in business.
Nasra al Habsi, Assistant General Manager, acknowledged that some types of tenders, which may stipulate certain minimum criteria, say, in support of Omanisation, in-country value (ICV) creation, and so on, may shut out some companies from bidding. While such stipulations are in the strategic national interests, other practices that are inherently anti-competitive will not be acceptable.
“There are certain practices that can have adverse effects on fair competition within the community. It's generally understood among the local population that these dynamics exist, even if they operate on a relatively small scale. We must take accountability for our actions, recognizing that our objectives may not always align perfectly with those of the authorities,” the official said.
On Monday, the Centre unveiled a major initiative on the theme, ‘Together to Ensure Competition’ to raise awareness about the Competition Protection and Anti-Monopoly Law in Oman, which aims to promote the development of competitive markets and economic freedom.
The Competition Protection and Anti-Monopoly Law encompasses regulations crafted to thwart anti-competitive practices, curb monopolies, tackle dumping, and implement measures for compensation and prevention. The campaign's overarching mission is to nurture competitive markets and strengthen an environment that champions economic freedom.
In August 2020, MoCIIP took over all regulatory duties outlined in the Competition Law. To enhance this role, they introduced Executive Regulations in January 2021 through Ministerial Decision 18/2021. These regulations offer more detailed criteria for identifying prohibited practices under the Competition Law and specify when arrangements must be submitted to their office for approval.