New Thresholds For Merger Control Filing

On 28 September 2023, a new federal law regulating competition, Law No. 36 of 2023 (the "New Competition Law"), was issued, repealing Law No. 4 of 2012 (the "Old Competition Law"). The New Competition Law introduces significant amendments to the UAE competition regime and came into effect on 28 December 2023.

One of the major areas of improvement under the New Competition Law is the merger control regime. Under the updated regulations, prior approval from the Ministry of Economy ("Ministry") is required for any proposed economic concentration that may affect competition in a relevant market, particularly if it creates or enhances a dominant position. Additionally, the law extends the notification period for economic concentration processes to 90 days, instead of 30 days, before finalizing the relevant agreements.