The Asia-Pacific Antitrust Review 2014

Vietnam: Overview

19 February 2014

In August 2013, the Vietnam Competition Council (the Council) issued a decision resolving the price-fixing cartel between 12 companies providing insurance for pupils in Khanh Hoa Province whose aggregated share of the market is 99.81 per cent. According to the press release, the insurance companies jointly entered into an agreement to fix insurance fee for pupils. Although the cartel members voluntarily terminated the agreement after just three months, they were still punished because any agreement that directly or indirectly fixes the price of goods and services between competitors with a combined market share of 30 per cent or more in the relevant market is prohibited under articles 8.1 and 9.2 of the Vietnam Competition Law (VCL).