A fine of up to VND 2 billion if the organization is unfair competition

This is the highlight of the 2018 Competition Law passed by the National Assembly on June 12, Accordingly, for organizations violating regulations on unfair competition, the penalty will be a maximum of 2,000,000,000. In addition, if an organization commits a breach of the law on competition, it shall be punished with the following penalty:

•  A fine of up to 5% of the total turnover of the violating enterprise on the relevant market in the fiscal year preceding the year of commission of the offense shall be imposed for the violation of economic concentration.
•  The maximum fine level for other acts of violating the provisions of this Law is 200,000,000 VND.

Competition Law 2018 takes effect on July 1,