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Brunei
Thursday, February 9, 2023
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Brunei
Thursday, February 9, 2023
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    Fair competitive market provides better growth opportunity

    A fair competitive market will provide businesses, regardless of scale, with greater opportunities for growth. Awareness and compliance of the Competition Order by businesses are instrumental in achieving a fair market which can benefit businesses in the long-run and enhance consumer welfare.

    The Executive Secretariat of the Competition Commission Brunei Darussalam (CCBD) underlined this during a dialogue with wet market vendors recently.

    The executive secretariat commended the attendance of the vendors, highlighting the importance of creating awareness on the Competition Order as market vendors are providing essential services to the community.

    The dialogue discussed the importance and benefits of complying with the Competition Order, and the key prohibited conducts currently being enforced, specifically agreements made by two or more businesses to fix price, limit supply, collude tender or divide market.

    These anti-competitive agreements (cartels) are per se illegal conducts under Section 11, Competition Order 2015, which has been enforced since January 1, 2020.

    Wet market vendors at the dialogue. PHOTO: CCBS

    Through prohibiting anti-competitive conducts, the objective of the competition law is to encourage businesses, including small and medium enterprises (SMEs), to compete fairly by setting price independently as well as attracting customers by offering quality, innovative goods and services.

    The session also discussed the mechanism in detecting cartels.

    Under Section 44, the Competition Order provides for Leniency Programme, which gives incentive for businesses that partake in a cartel activity to come forward to disclose information about the prohibited conducts and provide full cooperation to the CCBD, in exchange for up to a full immunity from the penalty.

    An interactive discussion was held, covering matters related to business conducts observed in the domestic market and policies to encourage competition in the marketplace.

    The dialogue session is part of the CCBD’s core function to promote a competitive business environment in Brunei Darussalam through an effective competition regime.

    The Executive Secretariat of CCBD can be reached through e-mail at brunei.competition@jpes.gov.bn or call 2233344 (extension 230, 341 or 343) for general inquiries and request for briefings on the Competition Order. 

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