Myanmar to draft a bill on Market competition policy

Da nang ,August 24

To achieve a free and fair market economy system,Myanmar to draft a bill on market competition policy.The draft bill is expected to be ready by 2015 , Tin Ko win, director of Myanmar ministry of economy development and National planning said on Tuesday.

He told the reporters at exclusive interview after launching ceremony ASEAN Regional Guidelines on Competition Policy .He added that Myanmar will draft the bill to be connected with its economy and it will last at least 5 years to finish the bill.

Myanmar agreed to finish a bill on competition policy before 2015 since the ASEAN Economist ministers' meeting which held three years ago.

Vietnam, Singapore , Thai and Indonesia already adapted competition policy law. Malaysia is going to finish it and Myanmar, Brunei, Lao , Cambodia and Philippine are going to draft competition policy and law, said Dr Vu Huy Hoang, Vietnam Minister of Industry and Trade, at the opening ceremony.
The free competition is envisioned to drive down the prices of good and services .The influx of foreign direct investment on the other hands to create the jobs said Myanmar delegate.

ASEAN Regional Guidelines books are meant to help raise awareness among the targeted groups, to develop a competitive culture amongst the business community and to further create a favorable environment for the introduction and enforcement of competition policy and law.