Competition authority signs first settlement agreements with 3 ICT firms

23/05/2022 Argaam
Logo ofGeneral Authority for Competition

Logo of General Authority for Competition

Saudi Arabia’s General Authority for Competition (GAC) announced today, May 23, signing settlement agreements with three companies operating in the information and communications technology (ICT) sector. 

 

The move, which is the first of its kind in GAC’s history, comes as part of the authority's efforts to enable companies to exercise their statutory right to apply for settlement. 

 

It is also a contribution to correcting the companies’ conditions and reinforcing their sustainability to encourage competition and growth of economic activities. 

 

The authority developed the settlement program as part of the business continuity programs, which also include reconciliation and compliance programs. 

 

This aims to empower market players and encourage them to abide by the competition law and its provisions. Settlement applications can be submitted electronically on GAC's e-services platform. 

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