“Revising competition law: EU experiences and lessons for Vietnam ” was the subject of a seminar organised in Hanoi on September 22.

The seminar was the last in a series of seminars held in Vietnam ’s five major cities by the Multilateral Trade Assistance Project III (EU-Vietnam MUTRAP III) and the Ministry of Industry and Trade (MoIT) from September 14-22.

Speaking at the event, MoIT Deputy Minister Le Danh Vinh said that with six charters and 123 articles, the Competition Law is a voluminous legal document that plays a vital role in shaping Vietnam ’s market economy.

Consequently, the effective implementation of the law in all aspects is essential, helping to create a sound competitive environment for all economic institutions and facilitate the country’s development, he added.

He noted, however, that Vietnam ’s competitive environment should be further improved and the role of the Competition Law needs to be promoted in future.

At the seminar, economic and legal experts from Vietnam and Europe discussed the experiences of large economies in enforcing the Competition Law and preventing undue restrictions on competition.

They also analysed the negative impacts of restricting competition on economic development and the best interests of consumers.

Questions relating to competition policies were answered by the experts in the hope of creating a truly level playing field for business and ensuring the rights of and benefits for consumers./.