The Saudi General Authority for Competition (GAC) on Thursday celebrated the World Competition Day 2024, reported the Saudi Press Agency (SPA).
The World Competition Day (WCD) is an annual event marked on December 5 of each year. On this occasion, various competition agencies, civil societies, and development organizations worldwide celebrate competition law.
The World Competition Day aims to increase public awareness about the significance of fair competition and its role in promoting economic growth, innovation, and consumer welfare. The theme for this year’s edition is “Competition Policy and Inequality.”
Observing the World Competition Day, the GAC shared multiple posts on social media showcasing its key milestones, its efforts in reviewing economic concentration applications, and its international achievements.
من أهم برامج #الهيئة_العامة_للمنافسة برنامج الامتثال والذي يهدف إلى اضطلاع المنشأة بدور استباقي ووقائي لضمان امتثالها لنظام المنافسة والحد من وقوعها في المخالفات لحماية سمعتها ومكانتها السوقية.#اليوم_العالمي_للمنافسة pic.twitter.com/LALT5SaHtr
— الهيئة العامة للمنافسة (@SaudiGAC) December 5, 2024
Furthermore, the GAC highlighted its Compliance Program, designed to engage entities in proactive and preventive roles to ensure their adherence to competition regulations and minimize violations to protect their brand image and market standing.
Moreover, the GAC shared posts that displayed its efforts in spreading the culture of competition and enriching knowledge across media and social media platforms to raise awareness among target audiences.
The GAC is an independent authority that oversees the implementation of the competition law, aiming to promote fair competition, combat anti-competitive practices, and ensure the availability and diversity of high-quality goods and services at competitive prices. Hence, the GAC focuses on three main tasks: protect competition, enforce the law, and monitor markets.
