House Economy committee okays articles of new Competition Law

Amman, Jan. 22 (Petra) – The Lower House Economy and Investment Committee, headed by MP Omar Naber, approved a number of articles of the draft 2022 Competition Law.

Chairing its meeting on Sunday, Naber said the committee tabled a slew of “core” amendments to the bill aimed to ban practices that impede fair competition and prevent market monopoly to ensure the “highest” standards of justice and non-infringement on small traders’ rights

The committee will examine all proposals and recommendations submitted by Jordan’s private sector to endorse a modern law that keeps pace with Economic Modernization Vision (EMV) aimed to overcome difficulties and protect free competition, which would contribute to advancing the Kingdom’s economy, he said.

For his part, Minister of Trade, Yousef Shamali, said amendments aim to protect and promote “free and effective” competition in Jordan’s market by revisiting provisions related to banning anti-competitive practices and stiffening penalties for violators.

The bill, he added, comes as part of a series of EMV-related legislation, which would safegurad and promote free and effective competition in the Kingdom’s market.
//Petra// AG

22/01/2023 15:50:39