Competition Affairs: Myanmar Competition Commission Meets With Media Personnel

Myanmar Competition Commission met with the media personnel in Yangon on Friday.

It’s an informal meeting with media persons to introduce about Myanmar Competition Commission’s background, its objectives and tasks undertaken by the commission and Myanmar Competition Law so that right, clear and transparent information can be shared to the public.

Vice Chairman, Myanmar Competition Commission, Than Maung said “We firstly found the mistyping, misrepresenting, mistranslation and mis-information about our commission and our law. Press is the bridge and it is the connection between the commission and public. So, you are very applicable and very reliable for commission.”

Myanmar Competition Law was enacted in 2015 and in exercise of the power conferred under section 5, sub-section (a) and (b) of the Law; the Union Government formed “Myanmar Competition Commission” in October 2018.

Vice Chairman, Myanmar Competition Commission, Than Maung said “It will be strange to you, even for us but it is very important when you do business when you are the service provider or you are the consumer. It is the regulation how to make business or profit fairly. How to trade how to make economy in fair and square regulations and methods is much important.”

Member (Economist), Myanmar Competition Commission, Thuta Aung said “What’s important for fair competition across the country is that businesses should know that we exist. We take competition very seriously. And in advertising, people should only advertise when they are certain of what they have to advertise.”

A commission member also talked about the need to set merger thresholds for a fair competition in the market.

Member (Economist), Myanmar Competition Commission, Thuta Aung said “I have a mandate for merger review for the commission and in the commission according to our law we will have to set the merger threshold as you know mergers and acquisitions are all important elements of economy and in the country where we are now inviting investments from abroad. Mergers and acquisitions are one of the entry strategies of multi-nationals. So, we take the merger threshold seriously.”

There’re plans to hold a seminar where economists in the country will come together to set thresholds at the national level for each sector. With the guidance of Union Minister for Commerce, regular meeting with press will be held as well.