Vietnam: Adopted Competition Law 2018 (No. 23/2018/QH14) including anti-competitive agreements regulation

On 12 July 2018, the National Assembly adopted the Competition Law 2018 (No. 23/2018/QH14), including anti-competitive agreements regulation. The law delineates the various categories of anti-competitive agreements that are proscribed, including price-fixing, market division, and bid-rigging. Furthermore, the regulation delineates circumstances under which specific agreements may be exempted from the aforementioned prohibitions, provided that they offer substantial benefits to consumers or facilitate technological advancement. The law applies to all businesses operating in Vietnam.