Vietnam: Adopted Decree No. 75/2019/ND-CP including unilateral conduct regulation

On 26 September 2019, the Vietnamese Government adopted Decree No. 75/2019/ND-CP including unilateral conduct regulation. The decree outlines sanctions in the field of competition. The imposition of fines on enterprises that abuse their dominant or monopoly positions within the market may range from 1% to 10% of the enterprise’s total turnover from the relevant market in the financial year preceding the violation. This is in response to actions such as price manipulation, the restriction of competition, or the imposition of unfair contract terms. Furthermore, additional penalties may include the confiscation of profits gained through such abusive practices. In order to remedy the situation, the violating entity may be required to eliminate any illegal contractual terms and undergo restructuring in order to mitigate the anti-competitive impact. In the case of monopolistic abuses, penalties may extend to the restoration of competitive conditions, the removal of harmful contractual terms and the compensation for obstructed technical or technological development.