Pro-Competition Laws in Logistics Sector Help Diversify the Economy

The aim of competition policy and law is to promote a level playing field for business players to deliver optimal economic outcomes. The effective enforcement of competition law deters harmful anti-competitive practices and open doors for more business opportunities and better choices of goods and services at more competitive pricing for consumers. Speaking during the Launching of the 'Competition Assessment Reviews of Logistics Sector in Brunei Darussalam' and 'Competitive Neutrality Reviews of Small Package Delivery Services in Brunei Darussalam', Yang Berhormat Dayang Nik Hafimi binti Abdul Haadii, a Member of the Legislative Council as Chairperson of the Competition Commission of Brunei Darussalam, CCBD said competition policy and law cannot work in isolation and must be complemented by other related policies. Hence, this will require complementary efforts from the sector regulators' part. The event took place at the Ministry of Finance and Economy.

Awang Haji Mohammad Nazri bin Haji Mohammad Yusof, Permanent Secretary at the Ministry of Transport and Infocommunications in a keynote address underscored the importance of effective competition in developing an efficient logistics sector. When markets function well, consumers can choose between different providers of goods or services, and firms are incentivised to compete, innovate more, and be more productive. Despite the relatively small share of 1.7 per cent of logistics in the country's Gross Domestic Product, GDP, in 2019, the logistics sector nonetheless plays a vital part in achieving economic development and diversification by enabling international trade and enhancing connectivity.

The two reports on 'Competition Assessment Reviews of Logistics Sector in Brunei Darussalam' and 'Competitive Neutrality Reviews of Small Package Delivery Services in Brunei Darussalam' were handed over by Yang Berhormat Dayang Nik Hafimi to Awang Haji Mohammad Nazri. Also present were Doctor Hajah May Fa'ezah binti Haji Ahmad Ariffin, Permanent Secretary for Economy at the Ministry of Finance and Economy and Awang Haji Hairul Mohd Daud bin Haji Abdul Karim, Deputy Permanent Secretary for Infocommunications, Cybersecurity, Strategy and Corporate at the Ministry of Transport and Infocommunications.

Source: Radio Television Brunei

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