MUSCAT: The Competition Protection and Monopoly Prevention Centre set up under the auspices of the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) seeks to ensure transparency and fairness in the domestic marketplace in line with international best practice.
Faisal bin Saud al Nabhani, Head of the Directorate of Monitoring and Analysis in Competition Protection and Monopoly Prevention Centre, said: “The centre aims at enhancing competition, opening new horizons towards a free and attractive economy for investment, protecting and encouraging competition, preventing monopolistic practices, regulating the freedom of economic activities in the local market, and the consolidating the principle of free market rules and freedom of prices for the benefit of the national economy and the consumer as well.”
In support of its objectives, the Centre will undertake research and market studies, investigate complaints and undertake awareness activities to highlight these goals.
According to the official, the Competition Protection and Monopoly Prevention Centre has received a number of complaints related to foodstuffs, electronic machines, and a number of other commodity goods.
The Centre, he said, has the authority to impose administrative fines in cases where a violation of the law is proven, or to refer the cases to the Public Prosecution if needed.
The centre also receives requests for economic concentration from various companies across different sectors. It evaluates these requests and issues appropriate decisions. In addition, the Centre also receives requests for exemption from the implementation of the Competition Protection and Monopoly Prevention Law, which it studies as well.
Al Nabhani said the Centre is currently working on integrated study for the retail sector. It is also coordinating with GCC countries in the formulation of a Unified Gulf Competition Law that can work to protect and encourage competition in the Gulf market.
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