Saudi Competition Czar to Wield More Power With Revamped Law - Bloomberg:
Saudi Arabia’s competition enforcement will have more teeth under a revamped law meant to attract investment at a time the kingdom looks to diversify its economy from a decades-long reliance on crude.
The General Authority for Competition will get greater leeway and independence to step in and take action when dealing with violations, Mohammed Al Jasser, chairman of its board of directors, said in an interview in Riyadh. The new law won the approval of the Saudi cabinet last week.
“What we need is to ensure that competition is unhindered and that any violators are taken to task,” said Al Jasser, who’s also a former central bank governor.
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