The aim of the research was to identify the challenges in the development of economic competition in Armenia and to formulate proposals for improving antitrust policy in line with international standards. The study employed a combination of comparative statistical analysis (specifically, the calculation of the Herfindahl-Hirschman Index (HHI) to assess the levelof market concentration) and institutional analysis based on the examination of the activities of the Competition Protection Commission of Armenia. A normative legal approach and case studies were additionally utilized, enabling the alignment of national antitrust policy with international standards and practices. It was established that small and medium-sized businesses in Armenia are a key factor in the competitive environment. The development dynamics of small and medium-sized enterprises (SMEs) from 2018 to 2024 revealed a steady increase in the number of entities from 64.3 thousand to 109.4 thousand, indicating a doubling of entrepreneurial activity over six years. The analysis of the HHI confirmed pronounced sectoral polarization: the banking sector has a low level of concentration (HHI – 908), power generation – a moderate level (HHI – 2,034), while the mobile telecommunications segment is characterized by high concentration (HHI – 4,784). An assessment of the effectiveness of Armenia’s antitrust policy was conducted based on the analysis of the legislative framework and the activities of the Competition Protection Commission. It was established that between 2020 and 2024, the regulator significantly intensified its supervisory measures: notably, in the case of Alex Holding LLC, a fine of AMD 24.7 million was imposed for abuse of a dominant position, and in 2024, fines totalling over AMD one billion were levied for collusion in the fuel market. It was determined that enhancing the effectiveness of Armenia’s antitrust policy necessitates the harmonization of national legislation with European standards. It is demonstrated that the implementation of leniency programmes, which have an effectiveness of 60–70% in detecting cartel agreements in Germany and France, and the reform of the fining system in accordance with the principles of the European Commission, will significantly improve the outcomes of antitrust investigations in Armenia.
World Competition