On 15 September 2017, the fifth draft of the new Competition Law was published on Vietnam’s National Assembly Office portal for public review and comment. The fifth draft is being reviewed by the Standing Committee of the National Assembly and is expected to be passed in May 2018.
While retaining many notable clauses set out in the second draft, published in April 2017, the fifth draft also presents substantial changes.
Distinction between horizontal and vertical anti-competitive agreements. Article 12, regarding prohibited anti-competitive agreements, now distinguishes between horizontal and vertical anti-competitive agreements. Businesses in a vertical relationship are prohibited from entering into certain anti-competitive agreements if “such agreement creates, or can possibly create, a substantial anti-competitive effect to the market”. Article 13 provides further details on the criteria for the National Competition Authority (NCA) to assess this.
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Business Law Digest is compiled with the assistance of Baker McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker McKenzie by emailing: Danian Zhang at danian.zhang@bakermckenzie.com, or for general enquiries contact Anand Ramaswamy at anand.ramaswamy@bakermckenzie.com
