Saudi competition authority investigates industrial companies

Unnamed companies are being investigated over dominant market position

Image used for illustrative purpose. In Saudi Arabia, Riyadh

Image used for illustrative purpose. In Saudi Arabia, Riyadh

RIYADH: Saudi General Authority for Competition (GAC) issued two decisions to investigate if a number of industrial sector companies have abused their dominant position in the market, Asharq reported citing sources.

GAC’s board of directors also decided at their last meeting, held on May 30, 2021, to investigate the economic concentration among auto manufacturers and sellers, Asharq said.

GAC is also investigating whether two contractors, four medical companies and six retailers colluded in bids for a government project, the sources said.

In January, GAC announced sanctions against National Gas Co. and fined it SR3 million ($800,000). In February, GAC fined four pharmaceutical companies SR20 million for engaging in behavior that obstructed the entry of a competitor into the market.

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