Armenian government has approved the draft law on amendments to the law on protection of economic competition. The bill has already been submitted to National Assembly’s consideration, according to Artak Shaboyan, chairman of the State Commission for Protection of Economic Competition (SCPEC).
As he noted at Tsakhkadzor-hosted seminar on the issues of economic competition, the amendments envisage hardening of penalties for violation of competition laws as well as increase of the Commission authority.
“In case of unfair competition, the entity will be fined at 0,1% of last year’s income, with the minimum penalty amount decreased to AMD 300 thousand,” Shaboyan stated.
