Law No. 23/2018/QH14 dated June 11th, 2018 of the National Assembly on competition
This Law sets forth anti-competitive practices, economic concentration that causes or may cause anti-competitive effects on the market of Vietnam; unfair competition practices; competition legal proceedings; sanctions against violations of competition law; state management of competition. read more
Accordingly, in comparison with the regulations in the earlier Law, this Law enlarges regulated entities. In particular, apart from enterprises, industry associations, this Law also applies to public sector entities (Article 2).
In addition, this new Law also supplements some agreements which are considered to be anti-competitive agreements such as: agreements on distributing customers; agreements on not trading with enterprises other than the parties to the agreements; agreements on restricting consumption market, sources of supply of goods and services from enterprises other than the parties to the agreements (Article 11).
Relating to criteria for determining an enterprise or a group of enterprises holding a dominant position on the market, apart from market share, this new Law also supplements the criterion “substantial market power”. In particular, it shall base on these factors; financial strength and size of the enterprise; advantages in technology and technical infrastructure; right to own, obtain and assess infrastructure, etc. (Article 26).
This Law takes effect from July 1st, 2019 and replaces the Law on competition No. 27/2004/QH11 dated December 14th, 2004.
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