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October 18, 2019

Honesty is essential to prevent unfair competition in the market

  • Businesspersons are playing an important role in boosting the economy of Myanmar. That’s why, the Myanmar Competition Commission, which was set up to implement the Competition Law, is committed to removing hindrances to fair competition while working with businesspersons.
    The commission is dedicated to becoming a reliable and competent authority for the benefit of the people.
    To effectively encourage fair competition and a free market, the commission will explore and take action against those who violate the law.
    The Competition Law allows anyone to report unfair competition in Myanmar’s economic landscape to the competition commission.
    The law forbids any attempts by an individual or business entity from monopolizing the market or hindering competition among businesses in the market.
    The competition commission is responsible for creating an environment of fair competition for businesses and for scrutinizing reports on unfair competition.
    The Competition Law extends to both foreign and domestic businesses in the market, and thus, each businessperson, investor, producer, trader and service provider is required to operate in accordance with it.
    The law prohibits businesses from pricing products or services below the production value or at variance with the market value, restraining production and distribution of other businesses, setting rules that will lead to unfair competition, among other things.
    The commission can collaborate with ministries to issue warnings, collect fines, and suspend or shut down businesses. Those who disagree with twhe decision of the Investigation Committee formed by the commission can appeal to the Commission within 60 days. Several exceptions and exemptions have been made for micro, small, and medium enterprises in the country.
    Any person who fails to comply with the request of the Investigation Committee can be imprisoned for up to 3 months or slapped with a fine of up to K100,000, according to Section 43 of the law.
    If the committee finds enough evidence that the law has been violated, then a case will be filed with the police and legal action pursued through the courts.
    Those found reporting a false violation out of ill will or providing fake evidence will be prosecuted. However, if accomplices are involved in any matter outlined in Section 13, the law will grant them a degree of leniency.
    A conviction for unfair competition can attract imprisonment of 3 months to 3 years or a fine of K100,000 to K15 million.
    The law reflects that honesty is essential for creating fair competition and boosting the country’s economy.

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