Saudi Press: Kingdom issues a competition law to ensure fair and legitimate competition among companies

  • 2/5/2023
  • 09:05
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Riyadh, March 07, 2019, SPA -- Saudi newspapers highlighted in their editorials today a number of issues at local, regional, and international arenas. Al-Riyadh newspaper said in its editorial that the Kingdom of Saudi Arabia is one of the first Arab countries to have issued competition law for ensuring fair and legitimate competition among companies. The newspaper said that the competition law, approved by Cabinet the day before yesterday, aims at creating an attractive investment environment to achieve price justice, increasing transparency, and encouraging innovation. Al-Yaum newspaper said in its editorial that the Minister of Media Turki bin Abdullah Al-Shabanah said, in a statement to the Saudi Press Agency, following the Cabinet's session, that the Kingdom of Saudi Arabia has donated with $ 500 million to co-finance the United Nations Humanitarian Response Plan for Yemen in 2019, in addition to "Imdad" initiative which has been announced since the beginning of this year to support food security and nutrition in Yemen. The newspaper said that the Saudi support for the brotherly Yemen continues to diminish the negative effects of sabotage by the Houthi militias, and the Iranian tampering with igniting the war between Yemen's sons. Okaz newspaper said in its editorial that the Kingdom of Saudi Arabia, for many years, has been committed to combating money laundering and financing of terrorism as two strategic priorities, and has been working hard to develop and improve regulations and legislation to curb these crimes in all their forms. The newspaper said that despite the Saudi declaration, more than once domestically and internationally, of its preventive measures to combat money laundering and the fight against terrorism, some external parties are trying to distort the Saudi role and dispel the facts for purely political purposes. -- SPA 11:06 LOCAL TIME 08:06 GMT 0001 www.spa.gov.sa/w849536

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