Developments of Competition Policy and Law in ASEAN - BRUNEI DARUSSALAM -

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Presentation transcript:

Developments of Competition Policy and Law in ASEAN - BRUNEI DARUSSALAM -

About BRUNEI DARUSSALAM Population: 414,400 (2010) GDP: BND 11.8 billion (2010) Major sector is oil and gas industry. Economic diversification since early 1970 Approx. 98% businesses in Brunei are small and medium enterprises (SMEs) Trade liberalisation, opening markets to attract investment and FDI

Current Status Sectoral approach for competition policy Array of statutes which regulate trading and business activities as well as to protect consumer interests, for example: Authority of Info-Communication Technology Industry (AITI) Order: Telecommunications Sector Autoriti Monetari Brunei Darussalam (AMBD): Banking and Finance Sectors Energy Division, Prime Minister’s Office: Oil and Gas Sectors Price Control Act, Consumer Protection Order (on the way) No comprehensive, nation-wide competition law No over-arching body for national competition and anti- competition matters National competition law is currently being considered

Challenges Competition culture not fully developed Size of economy and market capacity Lack of human resources and competencies Risk of regulatory burden to businesses Interface with other government policies E.g. industrial policies, local business development

Regional/International Development ASEAN Experts Group on Competition (AEGC) Capacity Building Activities Regional Guidelines on Competition Policy and Law Workgroups on Core Competencies for Competition Policy and Law, Competition Assessment etc Information sharing Trans-Pacific Partnership Agreement (under negotiation) Other avenues (APEC, United Nations etc)

THANK YOU