DFDL Regional Competition Counsel, David Fruitman, recently authored a piece in the March edition of Linklaters – Asia Pacific Competition Law Bulletin. David’s contribution was under the Vietnam section of this quarterly newsletter.
Here, he discussed the entry into force of Vietnam’s new Penal Code on 1 January 2018 and its relevant provisions prohibiting anti-competitive practices. Some of these impose sanctions upon such anti-competitive activities as bid-rigging, direct or indirect price fixing, artificially limiting or controlling supply and volume, limiting technology or investment, and abuse of dominant position in the marketplace. These prohibitions apply variously to both individuals and organizations, with offending individuals being subject to fines ranging from VND 50 – 200 million, whereas organizations may face fines of between VND 1 – 3 billion. David notes that these new Penal Code provisions are new, untested and that their interpretation and implementation remains to be seen.
For more information or any related enquiries, please contact David Fruitman at david.fruitman@dfdl.com.
