"Lower prices for citizens, more access to the market" - The competition law changes. Aligns with EU legislation
Small and medium-sized businesses will benefit from a fairer and more competitive business environment, and will have more opportunities to enter the market. This is one of the objectives aimed at achieving the changes in the law "On the protection of competition, submitted for public consultation, in addition to aligning the legislation with that of the EU.
Referring to the report that accompanies the draft, the foreseen interventions aim to have a positive impact on markets, businesses and consumers. For consumers, these changes are expected to bring benefits in the form of lower prices, higher quality products and services, and greater access to more diversified and fairer markets. The expected effects of this bill also include promoting innovation and improving efficiency in the economy, creating a more favorable environment for the development of new sectors and for improving the performance of existing enterprises.
From the institutional side, the Competition Authority will be strengthened with more advanced tools and mechanisms to ensure the effective implementation of the law, including increasing its capacities to interact with the databases of other law enforcement institutions, such as the General Directorate of Taxation and Customs, Public Procurement Agency and National Business Center. This will enable better market surveillance and prevention of practices harmful to competition.
In the social aspect, the proposed legal changes aim to influence the increase of public trust in free and effective competition, as well as the promotion of a fairer and more transparent environment in the market. The goal is to encourage investments, improve economic performance and quality of life in society.
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