2024-04-12 06:56:14
At the “Development of competitive culture in Armenia” event, the experience of companies that implemented antimonopoly compliance was presented. The Competition Protection Commission informs.
The introduction of compliance will allow to avoid competition violations, will increase the business attractiveness of companies, will be considered as a mitigating circumstance.
In cooperation with the Commission for the Protection of Competition and the American Chamber of Commerce, an event titled “Development of Competitive Culture in Armenia” was held for representatives of the business community.
The event was organized in order to present the experience, importance and benefits of antimonopoly compliance companies operating in RA.
“Antitrust compliance is a code of competitive ethics and conduct that enables businesses to develop a competitive culture and mindset among employees and avoid competitive offenses. This is a tool that works quite effectively in the modern world. Today the world says: let’s prevent, let’s learn together. Believe me, a significant part of these violations are committed due to lack of knowledge, so we are ready to take the business hand in hand to go through this path in order to have a good business environment and our companies to be competitive all over the world”, stated MSU President Gegham Gevorgyan in his speech, referring to anti-monopoly compliance. to the investment guide adopted in 2022.
When developing the guide, the commission took into account international best practices, it is relevant and applicable to all, including small and medium-sized businesses. A number of companies have already implemented it, the experience of two of which was presented during the event.
MSU member Tigran Markosyan noted that in this matter the commission chose the path of persuasion and not coercion, which is more effective. In particular, legislative incentives for the implementation of compliance have been created for business, that is, in cases of applying a measure of responsibility, the implementation of compliance by the business owner will be considered as a mitigating circumstance.
President of the American Chamber of Commerce Elina Margaryan emphasized in her speech the importance of the formation and development of a competitive culture, the existence of a transparent and competitive business environment, and in that context referred to the issue of increasing the level of awareness, highlighting the importance of ensuring the continuity of such events.
During the event, a question and answer format discussion was also held, during which MSU member Shushan Sargsyan addressed a number of raised questions.