The General Authority for Competition The General Authority for Competition announced that 6 enterprises working in contracting have been found guilty of collusion and coordination in government bids and tenders and have been fined more than 77 million riyals.
<The Authority said on its official website that based on the tasks and competencies entrusted to the General Authority for Competition, and the role of the Authority in protecting and encouraging fair competition and combating monopolistic practices, and in accordance with the principle of transparency to maintain the public right and protect the rights of affected complainants; the Authority has taken investigative procedures, research, evidence gathering and investigations in accordance with the competition law and its executive regulations.
The Board of Directors of the General Authority for Competition decided to approve the initiation of criminal proceedings against the six violating establishments before the Competition Law Violations Adjudication Committee.
The committee issued its decision to penalize the violating establishments with financial penalties (total) of 77,594,824 riyals, and the Authority will publish the committee's decision after the decision becomes final.
The Authority will do its part in publishing the committee's decision after the decision becomes final.
