EU moves closer to a deal to oversee big tech companies

Google logo at headquarters in Mountain View, California, USA. (Photo: AFP/VNA)

The European Parliament (EP) and European Union (EU) member states are very close to an agreement on new European law to end abuses of dominant positions by digital corporations. great.

The Vietnam News Agency correspondent in Brussels, citing several sources on March 22, said that an agreement can be reached as early as the evening of March 24 local time on the Regulations of the Digital Market Act (DMA). apply to groups like GAFAM, which includes Google, Apple, Meta (Facebook), Amazon, and Microsoft, with a range of obligations and prohibitions to limit their power over smaller companies.

It is expected that representatives of the European Commission (EC), the European Parliament (EP) and EU member states will meet on the afternoon of March 24 to resolve the last persistent points of dispute.

In December 2020, Competition Commissioner Margrethe Vestager and Internal Market Commissioner Thierry Breton presented a project to better protect consumers, provide “new possibilities” and enable European regulators Europe “acts faster” against anti-competitive acts.

Accordingly, the EC will strengthen control over all merger activities of large technology corporations, in order to limit the monopoly of innovation by startups and avoid being acquired for the sole purpose. is to exclude competitors.

The new law will only target the largest platforms such as GAFAM and a few others such as the online booking app Booking or the social network TikTok.

The regulation will also force tech corporations to share critical data with enterprise customers and mandate user consent for cross-referencing data from multiple services for profiling purposes. advertisement.

Fines of up to 10% of global business sales will be imposed in the event of a breach, and the EP wants to strengthen its means of deterrence further in the event of a repeat offence.

(According to Vietnam+)