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New drive to put accent on fair competition, monopoly prevention

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An awareness campaign will shortly get underway in the Sultanate of Oman signaling the Omani government’s intention to combat anti-competitive and monopolistic market practices.

The campaign, spearheaded by the Centre for Competition Protection and Monopoly Prevention (CPMP) at the Ministry of Commerce, Industry and Investment Promotion, is also designed to assure consumers that their legitimate rights and interests, particularly with regard to consumer prices, will be safeguarded. The drive will be underpinned by a hashtag campaign focusing on the message: ‘Protecting Competition for a Competitive Economy’.

Zahran bin Salem al Mahrouqi, Director General of the Center for Competition Protection and Monopoly Prevention, said the awareness and education campaign seeks to familiarise people and the business environment with the work of the Centre and its prerogatives. It will also introduce the salient features of the Law on Protection of Competition and Prevention of Monopoly, and explain its importance in contributing to economic growth and enhancing economic competitiveness.

“The media campaign aims to raise awareness of the role of the Center for Competition Protection and Monopoly Prevention, introduce the services it provides, introduce the provisions of the Competition Protection and Anti-Monopoly Law and its executive regulations, as well as spread the philosophy behind protecting competition and preventing monopolies,” he said.

Details about the initiative were shared by CPMP officials during a press briefing on the Sultanate of Oman’s hosting of the 3rd Arab Competition Forum next week.

His Highness Sayyid Dr Adham bin Turki al Said, Chairman of the Advisory Committee of the Center for Competition Protection and Monopoly Prevention, said competition protection requires a regional approach given especially the explosion of e-commerce. In this regard, he stressed the importance of strengthening legislations to advance fair competition in the marketplace.

Hamed al Busaidi, CEO of the Oman Center for Governance and Sustainability, noted: "International organisations say that the issue of competition, its protection and the prevention of monopoly has not taken its rightful place in Arab countries and is weak in terms of legislation and procedures. The holding of the third conference in the Sultanate of Oman indicates the extent of the government’s keen interest on this front. This forum will benefit us from the experiences of participating countries and international organizations.

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