6 April 2017
Myanmar enacted its Competition Law in 2015, and it came into force in February this year.
Myanmar Competition Law aims to provide public interest by controlling the unfair market competition.
The Ministry of Commerce will implement rules and regulations to supplement the Competition Law.
The business experts pointed out that the law could help to have balances between the quality and competitiveness.
Managing Partner , Baker & McKenie Limited. , Jo Daniels : “ ……I think what are the challenges a news country open up ensuring there is an appropriate balance between no anticompetitive conduct and allowing company to work together and to increase the quality and competitiveness. The Myanmar competition law actually balances those two things so I think that challenge but I think that the legislation has actually addressed that issue.”
The experts added that the Government is on a right pace for development of its new emerging market for economic growth.
Managing Partner , Baker & McKenie Limited. , Jo Daniels : “I think what everyone wants implementation to go faster and I think that government actually doing a good job among all of the different priority they have. I think that competition law as it is actually critical part of being and open and market economy.”
Plans are underway to establish Myanmar Competition Commission (MCC) under this law in order to tackle the complaints on market competition.