EU supports enforcing Competition Law
(VOV) - The Vietnam Competition Council (VCC) and the European Trade Policy and Investment Support Project (EU-MUTRAP) reviewed ten years of implementing the Competition Law in the country and lessons learnt at a seminar in Ho Chi Minh City on December 16.
EU-MUTRAP Technical Assistance Team Leader Claudio Dordi said the Competition Law has been implemented over the past 20 years and proved effective. Notably, it has played an important part in Free Trade Agreements (FTAs) negotiations among concerned nations.
Mr Dordi added that Vietnam is now a dynamic nation on the right track of international integration, so it is urgent for the nation to promote the efficiency of the Competition Law. Valuable experiences from the EU and the EU-MUTRAP project’s experts will enable the country to enhance its capacity of law enforcement in the context of global market integration.
So far, Vietnam has dealt with over 100 cases which have violated the law.
Dr. Tran Mai Hien, VCC Director General emphasised businesses, especially exclusive enterprises need to possess detailed knowledge of what should be done to avoid violating the Competition Law.
Dr Trinh Minh Hien, an EU-MUTRAP expert, stressed that state management agencies should limit the fields of business with the involvement of exclusive enterprises. Violations should be publicised and handled as soon as possible to help businesses to create a healthy competition environment in Vietnam.
The Competition Law was issued on December 3, 2004 with the purpose of restricting unhealthy competition.