Both local and foreign firms are seeking the assistance from Myanmar Competition Commission to dispute settlement over unfair competition14 มกราคม 2563
Both local and foreign-owned companies are entitled to seek Myanmar Competition Commission’s help in settling a dispute over unfair competition, U Than Maung, vice president of the commission, said December 27.
Formed in 2018 following the enactment of Myanmar Competition Law, the commission has to date settled four disputes out of the 10 put before it. The bylaw for Myanmar Competition Law, approved in 2017, prohibits unfair competition conduct in order to foster a strong competitive market.
“The law will treat all companies equal, whether the ownership is local or foreign,” said U Than Muang. “A foreigner is also entitled to seek protection of this law for any damage caused by unfair practices in the market, as ours is a free market. We create a fair and equal playground for both local and foreign players.”
The law provides protection against practices that undermine market competition and efforts to control supply so that other companies cannot access it. While the commission has the authority to take action against unfair practices, it has had difficulties investigating matters due to a lack of experts and competing demand on commission members’ time.
Illicit imports through border gates have impacted local products, and wholesale and retail distributors often raise questions and concerns over illicit trade during meetings with regulators.
The government has formed committees in states and regions to fight illegal imports, but their efforts have not eradicated the problem. In the 13 months from September 2018 to October 2019, over K15 billion worth of illegal goods were confiscated.
(Myanmar Business Today: https://mmbiztoday.com/local-foreign-firms-entitled-to-dispute-settlement-myanmar-competition-commission/ )