The Competition Protection and Monopoly Prevention Center at the Ministry of Commerce, Industry and Investment Promotion organized a specialized workshop yesterday in Muscat on "Mechanisms for Submitting Economic Concentration Applications." The workshop was attended by representatives from several law firms that handle these applications on behalf of companies.
The workshop covered several key topics, including an introduction to economic concentration, the circumstances under which applications for approval are required, a detailed review of the application process, the necessary documents, and the criteria used by ministry specialists to evaluate and review these applications.
The workshop also included a discussion session where participants' inquiries were addressed, and experiences were shared regarding the most significant challenges facing companies in this area and how to address them in accordance with applicable regulations. His Excellency Engineer Ghalib bin Saeed Al Maamari, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, emphasized the importance of the workshop in raising awareness about the mechanisms for submitting economic concentration applications and their role in supporting efforts to regulate the free practice of economic activity and to consolidate market principles and price freedom without restricting competition.
Sultan bin Saif Al-Maawali, Head of the Economic Concentration Applications Oversight Department at the Competition Protection and Monopoly Prevention Center of the Ministry of Commerce, Industry and Investment Promotion, stated that the workshop aimed to raise awareness of the legal procedures and requirements related to economic concentration processes, including mergers and acquisitions. It also clarified the Ministry's role in studying and reviewing these applications and ensuring their compliance with fair competition rules in the market, in accordance with the Competition Protection and Monopoly Prevention Law and its implementing regulations.
For her part, Wahiba bint Rashid Al-Hinai, an economic researcher at the Competition Protection and Monopoly Prevention Center, emphasized the importance of companies submitting applications before finalizing any economic concentration process. She noted that these workshops contribute to raising the level of compliance and fostering a healthy competitive environment that supports economic growth.
The workshop concluded with an affirmation of the commitment to continue organizing such awareness events to enable law firms to better understand the regulatory frameworks and enhance transparency in economic transactions.
