Lao PDR Lays the Foun­da­tion for its Com­pe­ti­tion Regime

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Thai-American Business (T-AB) Magazine - - Legal Updates -

n 14 July 2015, the Na­tional As­sem­bly of Lao Peo­ple’s Demo­cratic Re­pub­lic passed the Law on Busi­ness Com­pe­ti­tion ( No. 60/ NA) ( Com­pe­ti­tion Law). Here are some high­lights of the Law: the Com­pe­ti­tion Law pro­hibits cer­tain Un­fair Trade Prac­tices, anti- com­pet­i­tive agree­ments and abuses of mar­ket power and reg­u­lates merg­ers; the Com­pe­ti­tion Law ap­pears to be cur­rently ef­fec­tive, but not fully im­ple­mented; a le­niency pol­icy and a po­ten­tial re­ward mech­a­nism, when im­ple­mented, change the risk dy­nam­ics of par­tic­i­pat­ing in anti- com­pet­i­tive agree­ments and other an­ti­com­pet­i­tive be­hav­ior; the Com­pe­ti­tion Law will have teeth – there are strong penal­ties that are po­ten­tially ap­pli­ca­ble. Given the cur­rent un­cer­tainty, it is dif­fi­cult to de­ter­mine how the Com­pe­ti­tion Law will im­me­di­ately af­fect busi­nesses op­er­at­ing in the Lao PDR. Busi­nesses should con­tact a qual­i­fied lo­cal ad­viser and start early to au­dit their con­duct to de­ter­mine po­ten­tially pro­hib­ited ac­tiv­i­ties. For more in­for­ma­tion con­tact DFDL at david. fruit­man@ dfdl. com.

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