Vietnam: Implemented Decree No. 03/2023/ND-CP regulating the functions, duties, powers and organizational structure of the National Competition Commission

On 1 April 2023, Decree No. 03/2023/ND-CP, which established the Vietnam Competition Commission (VCC) under the Ministry of Industry and Trade (MOIT), entered into force. The VCC is responsible for the oversight of competition matters, the management of economic concentrations, the resolution of competition-related complaints and decisions, and the provision of advice to the Ministry on national competition policies, including consumer rights and business operations. The VCC performs the duties and powers encompassing detection, verification, investigation and resolution of violations of competition law, management of economic concentrations, and adjudication of exemptions from restrictive agreements. Furthermore, the Commission is tasked with monitoring market activities, enforcing competition laws, ensuring consumer protection, overseeing multi-level marketing practices, and carrying out other duties related to competition as delegated by the MOIT. Finally, the composition and organisational structure of the Commission are outlined. Upon the decree's enactment, Decree No. 07/2015/ND-CP and Decision No. 24/2015/QD-TTg cease to be effective