New competition law to better manage economic concentration
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New competition law to better manage economic concentrationThe new competition law will create a legal framework to better manage eco
New competition law to better manage economic concentration
The new competition law will create a legal framework to better manage economic concentration. - Photo forbesvietnam.com.vnHÀ NỘI — The new competition law will create a legal framework to better manage economic concentration, experts say. Trần Phương Lan from the Việt Nam Competition and Consumer Protection Authority said at a recent workshop to disseminate the Law on Competition 二0 一 八 that the law enables antitrust investigations, even for economic concentration deals conducted overseas that impact the market.The old Law on Competition 二00 四 has limited ability to investigate overseas deals. The new law would also help better control economic concentration deals which resulted in unreasonable increases in marine transport fees or medicine prices, for example, according to Lan.Regarding Grab’s acquisition of Uber in Southeast Asia, including Việt Nam, Lan said that the antitrust investigation will be carried out until mid-November.This case will be handled following the Law on Competition 二0 一 八 if the investigation is still ongoing on July 一, 二0 一 九 when the new law comes into effect.In the 二00 四 law, an enterprise or group of enterprises with a market share of 三0 per cent or more was considered dominant and restricting competition. However, the new law says that market share of 三0 per cent or more does not always mean the antitrust regulations are violated if the dominant enterprises do not have significant impacts on the market.
In a document sent to the competition authority, Grab said that its market share after acquiring Uber in Việt Nam was below 三0 per cent but the ride-hailing firm did not provide detailed evidence for the figure.
