YEREVAN. – The Armenian State Commission for the Protection of Economic Competition (ASCPEC) has targeted the large business by issuing huge fines, ASCPEC Chairman Artak Shaboyan said Thursday speaking at a conference entitled “Competition, Restrictions and Solutions.”    

Shaboyan recalled that huge fines were issued in the recent months against Armenia’s several large businesses.   

“[But] Our fines have a preventive implication, so that we may prevent the misuse of dominant position,” stated Shaboyan. 

Also, he noted that they largely highlight the elimination of the violation, in addition, they apply a number of legislative criteria, and a special code is being developed with reference to the methodology for setting the amount of the fines.