Competition, Standards and Liberalisation

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The Competition, Standards and Liberalisation SRI was designed to develop an efficient and competitive environment for the benefit of business, consumers and the economy.

Competition

Innovation thrives in a culture in which competition exists, and this will beneft the consumer greatly in terms of effcient production of goods and services.

The Competition Act 2010 was launched by the Government and is a clear commitment by the authorities in enforcing this new law. The implementation of the act is overseen by the Malaysia Competition Commission (MyCC).

The MyCC continues to play an important role in focussing advocacy programmes to the public and enhancing the industry’s understanding of the Competition Act 2010. The Commission has received a number of complaints and is undertaking investigations into some of them. These investigations take into account whether the complaints fall within the jurisdiction of the Act and if there is adequate information for an investigation to proceed.

Standards

The Standards component focusses on the development, usage and enforcement of standards for Malaysian goods and services.

Standards Malaysia is currently focussing on developing standards for 24 sectors. The development of standards for each sector is overseen by an Industry Standards Committee, which ensures that standards developed are aligned with international practices and meet the specifc needs of the industry.

The implementation of standards across sectoral initiatives is presently focussed on the Agriculture, Healthcare and Business Services NKEAs.

Liberalisation

The Liberalisation component of this SRI seeks to enhance the capacity and capabilities of local companies through foreign investment and technology transfer. The Government remains mindful, however, that liberalisation must be implemented in a progressive manner. The liberalisation of services is coordinated and monitored by the Malaysian Services Development Council (MSDC) which is chaired by the Minister of International Trade and Industry.

While all the sub-sectors announced by the Prime Minister in previous years have been liberalised, three remaining sub-sectors (architecture, engineering and quantity surveying) are pending amendments to their respective Acts.