Angolan Parliament approves Competition Law

20 April 2018

The Angolan parliament on Thursday unanimously approved a new Competition Law, intended to respond to “existing situations of market imperfection” in the Angolan economy, introducing “principles and rules of sound competition in morality and ethics.”

The document, proposed by the government and approved in its entirety during the eighth ordinary plenary meeting of parliament, also outlines the creation of a “Regulatory Competition Authority (ARC)” with autonomy and exemption, to defend the public interest and to promote and defend competition.”

The Minister of Finance, Archer Mangueira, had already informed that after the final vote on this new law, approval will be given to the respective regulation, which will specify “the object of abuse of a dominant position and define the circumstances in which economic dependence is found to exist.”

The establishment of a competition law was announced by the Angolan President in October 2017 in his first address on the state of the nation after the general elections in August and is part of the announced legal framework focused on the creation and operation of private companies. (macauhub)