Law 281/2022 - Competition Law. Country/Territory Lebanon Document type Legislation Date 2022 Source FAO, FAOLEX Subject General Keyword Business/industry/corporations Consumer protection Fiscal and market measures Governance Institution Internal trade International trade Processing/handling Sustainable development Equity Geographical area Asia, Mediterranean, Middle East, Near East and North Africa, Western Asia Entry into force notes This Law enters into force on the date of its publication in the Official Gazette. Abstract Comprising 66 articles across four chapters, this Law is designed to promote and regulate free competition while prohibiting trusts, monopolies, and cartels. Its objectives extend to protecting consumer rights, achieving economic efficiency, fostering production, innovation, technical development, and maintaining high product quality. The impetus for developing Competition Law stems from recognizing the crucial interrelation between competition policy and economic policies, particularly in trade and their connections to international trade liberalization and development. As a pivotal defense mechanism, the law shields developing countries from potential adverse impacts resulting from the globalized commercial behavior of multinational companies. Given Lebanon's market challenges, including a small economic size and the prevalence of privileges and monopolies, the need for laws to organize and restructure becomes imperative. This legal framework aims to create an environment fostering fair competition, ensuring the protection of investors and small to medium enterprises from dominance. The Competition Law is deemed essential for stimulating investment, promoting innovation, and contributing to the national economy. It is also envisioned as a tool to address collusion and inappropriate practices in public procurement, aligning with proposed economic and legal reforms by the government. Ultimately, the law seeks to establish a comprehensive system that regulates competition, prohibits anti-competitive behaviors, and exercises control over economic concentration operations to ensure market balance and cultivate freedom of competition. Full text Arabic Website www.legallaw.ul.edu.lb