The Royal decree adopted the New Saudi Arabian competition Law (M/75) on 29/06/1440 Hijri and was enforced on 24/01/1441 Hijri to replace the old Competition Law. The primary focus of the law is to enhance fair competition through the implementation of protection and encouragement measures. The law also combats any monopolistic practices that may impact fair competition or the interest of customers. It aims at establishing economic development and market improvement.
The Competition law is implemented and regulated by the General Authority for Competition (GAC). The GAC is responsible for dealing with conflicts or overlaps of the Competition Law with the jurisdictions of other government entities. GAC has also set up guidelines to interpret the rules concerned with economic concentration transactions and the conditions under which the transactions are to be notifiable in Saudi Arabia.