Africa-Press – Angola. Achieving a fairer, more transparent and favorable competitive environment, for greater private investment in the country, is the focus of the Competition Regulatory Authority (ARC), assigned to the Ministry of Finance, the institution’s administrator, Nelson Lembe, said.
According to the person responsible, who opened the seminar on “Company Concentration Operations”, ARC was created within the scope of the 2018-2022 Development Plan with the aim of improving the business environment.
“ARC has the duty to guarantee compliance with and respect for the rules and principles of competition in Angola, acting in almost all sectors, from public, private, cooperative and associative”, he asserted.
He made it known that the institution ensures and guarantees three fundamental aspects, set out in Law no 5/18 of 10 May, namely market efficiency and balance, the allocation of resources and ensuring the protection and well-being of consumers.
Regarding the topic, he explained that the concentration has to do with company mergers, an issue dealt with in the competition regime.
Nelson Lembe said that if the merger and acquisition of companies violates the law, ARC can impose fines ranging from one to 10 percent of the business volume.
“It is the role of the State to simplify and mitigate all obstacles that actually prevent easy investment, as well as for companies to increasingly improve their performance”, said the administrator who called on companies to register mergers and splits with the ARC.
The training seminar on “Company Concentration Operations”, carried out by ARC, aimed at technicians in the construction sector, aimed to explain the institution’s actions in terms of company concentration, to prevent monopolies capable of harming healthy competition.
In addition to the construction sector, the event is being held with other specific sectors of the economy, such as oil.
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