Vietnam: Implemented Competition Law 2018 (No. 23/2018/QH14) including merger control regulation

On 12 June 2018, the Competition Law 2018 (No. 23/2018/QH14) entered into force, which includes provisions pertaining to the regulation of mergers and acquisitions. The law delineates the criteria for evaluating whether mergers, acquisitions, and other forms of economic concentration have a significant impact on competition. It provides a framework for the notification and evaluation process that companies must adhere to prior to undertaking economic concentration activities. In evaluating the proposed merger, the relevant authorities consider a number of factors, including the combined market share of the merging entities, the existence of barriers to market entry, and the potential impact on technological advancement and consumer benefits. Furthermore, the regulations permit the granting of conditional approvals, contingent upon the fulfillment of specified conditions designed to offset any anti-competitive consequences. In instances where mergers are determined to have a detrimental impact on competition, the Commission is empowered to prohibit the merger or impose corrective measures.