Competition Act 2010

This isn't very fair, is it?

Our Competition Act 2010 will start rolling on 1^st January 2012.

The Act (in the US, they have their Anti Trust Laws) basically is to promote fair competition.

The Competition Act 2010 strives to provide a business environment that ensures fair play, without favoritism, deter abuses by major industry players or anyone for that matter. It will help promote a market environment and check monopolies. A free market environment will promote fair competition and do away with any barriers to entry.

Free market,‘jangan pakat’, no partnering to benefit themselves at the expense of consumers.

Hopefully, the leveling of playing fields and fairness in the provision of goods and services will bring about dynamic competition, innovation and improve competitiveness. This will ultimately benefit the public or consumers and small businesses.

This is also an opportunity to enhance our productivity, skills and competencies and businesses can then become more globally competitive, especially in the current challenging economic environment.

Bear in mind, though that competition too can destroy those who are inefficient, slow to response, not strong enough nor competent enough to embrace the challenges.

Adopting the right practices to improve productivity, processes, new techniques and to innovate will be necessary to fight competition and move Malaysia forward toward a successful direction for the future.