Logo of The General Authority for Competition (GAC)
The General Authority for Competition (GAC) announced the summary of its performance for 2023 regarding applications for economic concentration, which amounted to 313 applications.
The authority issued 172 no-objection certificates during 2023, down 2.3% year-on-year (YoY), according to a statement.
Acquisitions dominated the largest number of economic concentration applications reaching 143, or 83% of the total, the authority added.
|
Details of Economic Concentration Applications in 2023 |
|||
|
Type of Application |
2022 |
2023 |
Change |
|
Under study |
11 |
10 |
(9%) |
|
No required to be reported |
128 |
128 |
— |
|
Rejected |
1 |
— |
— |
|
No-Objection |
176 |
172 |
(2%) |
|
Pending |
— |
3 |
— |
|
Total applications |
316 |
313 |
(1%) |
The manufacturing industries sector accounted for 23% of total applications. It was followed by information and telecommunications with 17%, then professional, scientific and technical activities with 8%.
|
Economic Concentration Applications by Sector |
|
|
Sector |
Percentage |
|
Manufacturing |
23% |
|
Information and telecommunications |
17% |
|
Professional, scientific, and technical activities |
8% |
|
Financial activities and insurance |
7% |
|
Other services activities |
46% |