Rules Of Competition: New Field To Compete

Omar Al Heloo discusses the developments in UAE competition law.

In brief:

• The GCC States are still widely considered to be attractive environments for investment.
• The GCC States have carried out many initiatives to protect and promote competition in the market.
• A major beneficiary of any competition legislation will be the legal sector.
• This field requires cooperation between international firms and local firms.
• Competition rules are now taken very seriously and this trend can be expected to emerge and spread within the GCC.

In the past twenty years, the six States of the Gulf Cooperation Council (GCC), namely Saudi Arabia, Oman, UAE, Qatar, Kuwait and Bahrain, have witnessed economic growth, together with development in technology and investment opportunities in many sectors. Currently, despite the cautious attitude of many investors due to instability highlighted by the Arab Spring and amplified by the world financial crisis, the GCC States are