New Law on Competition in Kuwait
The Kuwaiti legislators are currently undertaking a critical analysis of the newly established competition law. This legislation shall grant broad powers to the Competition Protection Authority (the CPA) of the country. It will certainly be instrumental in encouraging enhanced investments in this Gulf state. The Ministry of Commerce (the MoC) is speaking of more amendments in order to welcome more investments into creating a more investor friendly business environment. The CPA has off late joined hands with myriad of corporations to put the government body back on track. The CPA is a body run by the state government which is monitoring the operations in the domestic market, in consonance to serving consumers and producers.
The CPA was established via the Law Number 10 of 2007 regarding Protection of Competition, where the provisions were issued under the Council of Ministers Resolution Number 106 of 2009 and further amended by the Council of Ministers Resolution Number 994 of 2015. This law regulates the protection of competition. The law further applies to all the entities including the international persons who conduct businesses in Kuwait and to natural and artificial persons like merchants, etc. the law ensures that the fact that the freedom to practice economic activities, shall not come in the way to curb free competition or preventing the harm.