Saudi Arabia's GAC: Upholding Fair Competition and Consumer Protection

The General Authority for Competition (GAC) in Saudi Arabia plays a crucial role in ensuring fair competition and consumer protection in the market. Established in 2004 and restructured in 2017, GAC has been actively enforcing competition regulations to promote economic prosperity and innovation.

Over the years, GAC has imposed fines totaling nearly SR1 billion on companies violating competition rules. Recently, fines were imposed on companies for abusing dominant market positions and manipulating commodity markets, showcasing GAC's commitment to upholding fair competition.

Economists emphasize the importance of GAC's role in creating a level playing field for businesses, attracting investments, and fostering sustainable development. By regulating market competition and preventing monopolistic practices, GAC contributes to the economic growth of Saudi Arabia.

Experts highlight the positive impact of GAC's regulations on market efficiency and consumer welfare. Through its efforts to ensure fair competition across all sectors, GAC is instrumental in supporting the country's economic goals outlined in Vision 2030.