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- 15 / 07 / 2018 -
New regulations on agreements in restraint of competition and economic concentration

On June 12, 2018, National Assembly promulgated Competition Law No.23/2018/QH14 with many new features compared to the Competition Law in 2004. Law on Competition 2018 takes effect on July 01, 2019.
Accordingly, Law on Competition 2018 provides some new noteworthy content as follows:
1. National Competition Committee shall assess the impact or likelihood of significantly restricting competition from a competition restriction agreement based on such factors as: Enterprises market share that participate the agreement; Barriers to entry, expansion of the market; Limited research, development, innovation technology or technology quality restriction; Reduce the accessibility, and holding essential infrastructure; Obstructing competition in the market by controlling specific factors in the sector or sector related to the enterprises participating in the agreement; etc.
2. Duration of exemption for competition restriction agreement: 05 years from exemption decision being promulgated.
3. The National Competition Committee positively assesses the economic concentration which based on one of the factors or a combination of factors such as: Positive evaluation to sector development, field and science, technology according to strategy, planning of the State; Positive impact on the development of small and medium enterprises; To increase the competitiveness of Vietnamese enterprises on the international market.
Thus, it can be seen, Law on Competition 2018 clearly provided factors which are the basic for the National Competitive Committee accesses competitive effects, positively evaluate of economic concentration, and it also clearly regulated about duration of exemption for competition restriction agreement.