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Official Gazette

Friday, January 27, 2023

Draft decree on handling violations of competition legislation

Updated: 15:19’ - 10/06/2005

The Ministry of Trade is working on a draft decree on handling violations of competition legislation, in preparation for the enforcement of the Competition Law from July 1.

Under the draft, the following acts of competition restriction may be subject to a maximum fine of 10% of total turnover:

- Agreement on directly or indirectly fixing goods and service prices;

- Agreement on preventing or restraining other enterprises to enter the market;

- Agreement on ousting other enterprises from the market;

- Acting in collusion with one another for bid winning.

Particularly, illicit multi-level sale practice, which shows signs of fraudulence, would face fines up to VND 100 million.

Acts of providing misleading indications, discrediting other enterprises, making advertisements or organizing sale promotion for the purpose of unfair competition would be fined between VND 5 and 50 million.-

VNL_KH1 

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