The Department of Competition and Consumer Affairs (DCCA) is committed to spreading awareness on anti-competitive behaviours among businesses as well as consumer rights in order to build a sustainable and healthy marketplace within the sultanate.
The DCCA recently held a workshop attended by local media to disseminate information on the three laws enforced by the department namely; the Competition Order, the Consumer Protection (Fair Trading) Order and the Price Control Act.
The workshop saw in detail discussions on the scope and the key prohibitors of the three laws, while also showcasing how the effective implementation of the laws mentioned can serve as building blocks to promote a healthy market.
This in turn, according to the DCCA, has the potential to create business opportunities and boost domestic consumption and thus contribute to the country’s economic growth, as aspired in the Wawasan 2035.
Furthermore, in order to promote a well-functioning market, the DCCA ensures fair competition and smart consumer culture through two divisions; the Competition Division and the Consumer Affairs Division.
The Competition Division is the Executive Secretariat of the Competition Commission Brunei Darussalam (CCBD) which is responsible for enforcing the Competition Order through prohibiting anti-competitiveness business conducts such as cartels.
Meanwhile, the Consumer Affairs Division enforces Consumer Protection (Fair Trading) Order by prohibiting unfair trade practices which can mislead consumers.
It was highlighted that the department’s price regulating role in the Consumer Affairs Division is only limited to specific essential goods listed in the Price Control Act, as well as specific goods during festive seasons.
“This is to minimise distortive interventions, in line with the national agenda to promote a healthy and dynamic business environment which offers people benefits from the vibrant and competitive domestic market,” said the DCCA in a press statement.
The workshop was organised by the DCCA, under the Department of Economic Planning and Statistics (DEPS), Ministry of Finance and Economy (MoFE) in collaboration with Darussalam Enterprise.
The session saw the participation of 12 journalists mainly specialising in business and economics news, representing various media agencies, including online media. – Wardi Wasil
The Bruneian | BANDAR SERI BEGAWAN