Strengthening a Competition Law Regime to Protect Investments against Unfair Competitions

Competition is an evolving component in an efficient economy that protects all market participants. It is highly required for the development of an economy and a market. The research promotes investment by tackling shortfalls and gaps in Sri Lanka’s competition framework in a detailed way. To find workable responses to non-competitive concerns in the Sri Lankan legislative framework, a comparative review was undertaken with the two jurisdictions’, USA and EU competition regulations because USA and EU has a sound legal regime that can be taken examples for Sri Lanka. Furthermore, the studies concentrated on the suitable suggestions for the competition regulatory framework which can be recommended in a practical perspective. The research method used in this study is qualitative research and doctrinal research. The core principles that assures the present position of law of competition in the current business world are the principle of policy of competition, its significance, the principle of law of competition, and anti-competitive activities. However, Sri Lanka lacks a specific legislative structure governing competition policy. The main statute is the Consumer Affairs Authority Act (No. 03 of 2003), and the institute that regulate the law of competition in Sri Lanka is the Consumer Affairs Authority. Despite the fact that numerous pieces of legislation protect competition in particular areas, investments of Sri Lanka encounter various issues due to gaps in the current legislative structure of Sri Lanka. Furthermore, due to the lack of effective and comparative analysis on the policy of competition, the law of competition in the investment environment is a non-disclosed domain for law students, researchers and investors. Accordingly, this research will discuss the current legislative structure pertaining to competition law, as well as the inadequacies in competition law in the investment environment, as well as a comparative study with EU competition law and US anti-trust law.