Parliament accepts Competitive Business Bill

Parliament has approved a bill to regulate competition in businesses and sent it to the committee.

The bill was proposed by Central Hithadhoo MP Ibrahim Mohamed Didi on behalf of the government.

The bill proposes to establish regulations on mergers and give the government authority to regulate competition in the Maldives business sector and stop practices that undermine competition and affect the economy.

At Monday’s sitting, Komandoo MP Ahmed Nashid emphasized the need for competition between businesses and said that the bill should not hinder independent businesses.

The bill proposes to ban any agreement that hinders competition and gives the economic ministry power to regulate businesses that provide essential goods and services.