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October 22, 2019

MCC receives four complaints of unfair competition in a year

Myanmar Competition Commission held a media conference in  Yangon yesterday. Photo: Nyein Nyein
Myanmar Competition Commission held a media conference in Yangon yesterday. Photo: Nyein Nyein

The Myanmar Competition Commission (MCC) has received four complaints of unfair competition in the local market in one year, said U Ko Ko Lay, the director of the commission.
He made the remarks at a media conference, led by U Than Maung, the vice chairman of the Myanmar Competition Commission, held yesterday at the Department of Trade, Export/Import office (Yangon branch), No 228/240, Strand Road, Yangon.
“Since its formation on 31 October, 2018, the competition commission has received four letters of complaint and it has launched an investigation into the complaints. An investigation committee has been formed to look into unfair competition in the market,” said U Ko Ko Lay.
“In developing the nation’s economy, the entrepreneurs’ role is very important, in the sense that they participate in ensuring free and fair competition among businesses,” said U Than Maung. “The MCC needs to ensure fair competition in order to strengthen the economy. On the other hand, entrepreneurs must respectfully obey the competition law,” he added.
The competition law is not a law that constrains the business community and it is meant for the protection of businesses, said U Aye Han, a member of the MCC. “This law is for the protection of entrepreneurs. It is not a curbing for businesses. We are ensuring entrepreneurs abide by this law,” he added.
The competition law prohibits unfair coordination such as price fixing, restricting production, collusion in tendering or auctioning, discrimination among businessmen, denial of supply of products or their sale to other businesses, fixing unfair prices, abusing market dominance, and exchanging secret information such as price among competitors.
Those who violate the competition law will be imprisoned for upto three years, face a fine of upto K15 million, or both.
The Myanmar Competition Commission was formed to implement the competition law, which was enacted in 2015. The commission has the Minister for Commerce as its chairman, besides five representatives from related ministries and another five representatives of lawyers and entrepreneurs.  (Translated by Hay Mar)

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