/kɒmpɪˈtɪʃən lɔː/ – Phrase
Definition: Luật cạnh tranh
A more thorough explanation: the body of law that regulates business activities and markets, especially agreements and practices that limit competition such as unlawful restrictions, price fixing and monopolies (=complete control over a certain market)
Example: A delay in introducing competition laws to protect the interests of consumers in Guernsey has raised concerns.