The French territory of New Caledonia is set to establish a competition authority, reports say, after lawmakers initiated the process of modeling a regulator after France’s antitrust watchdog.
Reports say the French overseas territories minister George Pau-Langevin announced an ordinance to create the authority has been penned in cabinet. New Caledonia residents have been vocalizing opposition to the territory’s high cost of living in recent months, reports say, and a competition watchdog could aid with the disapproval.
France updated the organic law for the territory last year allowing New Caledonia to implement independent regulatory bodies.
Full content: Radio NZ
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