Saudi Council of Competition to be renamed

10/10/2017 Argaam

 

Saudi Arabia’s cabinet has approved changing the name of the Saudi Council of Competition to the General Authority for Competition, the official Saudi Press Agency (SPA) said on Tuesday.

 

The name change was based on the recommendation of the Council of Economic and Development Affairs.

 

The General Authority for Competition will be based in Riyadh.

 

It aims to protect and promote fair competition, fight market monopolization, and maintain transparency.

 

The cabinet also approved on Tuesday extending the National Industrial Cluster Development Program until Dec. 30, 2020.

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