The Ministry of Economic Development, on Monday, issued a statement inviting the public to present opinions regarding the Competition Bill.
The opportunity to contribute to evaluating the bill, intended to create and maintain economic competitiveness between local businesses, will be open until March 11.
Members of the public may send their concerns to the official email address of the Ministry of Economic Development.
The Ministry stated that the Competition Bill would aim to eliminate the economic disadvantages of anti-competitive measures practised by firms.
According to the bill, a system would be established in order to prohibit the formation of agreements that limit economic competitiveness and prevent large businesses from taking undue advantage of their market power.
Additionally, the Finance Ministry also declared that certain regulations would be formed regarding mergers or acquisitions which may severely limit competitiveness within the market.
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