Fair competition
In one sentenceProtecting market freedom by prohibiting anti-competitive agreements and abuse of dominance and by monitoring economic concentration, overseen by the General Authority for Competition.
Simply put
The Competition Law prohibits, for example, competitors agreeing on prices or dividing markets and customers, and prohibits a dominant business from practices aimed at pushing its competitors out of the market.
Mergers and acquisitions that reach certain thresholds must be notified to the Authority and approved by it before completion; the thresholds and procedures are in the law and its regulations.
Example
Three stationery shops in one city agreed not to sell school supplies below a unified price. This is a price agreement that may be considered a violation of the Competition Law even if it was not written in a contract.
Don't confuse it with
Consumer protectionConsumer protection governs the business's relationship with the individual buyer, while competition governs businesses' relationships with one another and with the market.