Sydorovych: Without strong anti-monopoly legislation, monopolies and oligarchs will continue to rob the state

On February 7, 2019, the Verkhovna Rada adopted as a whole the Law on the protection of economic competition No. 6746. Samopomich deputy Ruslan Sydorovych believes this document to be vitally important. “It was with the launch of the anti-trust legislation that the powerful American economy was born. This is the legislation that divided the Rockefeller’s monopoly enterprises. And this is the task that Ukraine must implement. Without powerful anti-monopoly legislation, monopolies and oligarchs will continue to rob the state.”

This document is also important for business because the powers of the Antimonopoly Committee have been expanded: in particular, the possibilities for collecting evidence have been expanded, because it is impossible to apply appropriate sanctions without an evidentiary record. The very procedure for applying sanctions has also become clearly regulated, so that the committee members could not at their own discretion reduce multi-million sanctions to multi-thousand ones. That is, the institutional capacity of the Antimonopoly Committee is being enhanced as a whole.

According to Sydorovych, some good ideas were not ultimately supported.

“This concerns the period for reviewing the relevant violation in the Antimonopoly Committee. It should be understood that if the time for Antimonopoly Committee’s investigation is not sufficient to establish the fact of the violation, the monopolist can simply avoid punishment, because the time allowed for bringing to responsibility will run up.”

However, Sydorovych states there is another greater fly in the ointment:

“No matter how much we strengthen the Antimonopoly Committee at the legislative level, without the Committee’s readiness to work in the interests of the state, honest business, in the interests of people, nothing will happen. Because when AMK refuses to recognize DTEK as a monopolist, this runs contrary not only to the law but also to common sense.”

The less monopolism, the healthier the competition. And the greater the competition, the better it is for everyone – for consumers, for business, for people – and the stronger the economy will be.

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