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With the commitments for the introduction of a competition law ahead of the ASEAN Economic Community (AEC) 2015 in mind, the Competition Order of Brunei Darussalam was enacted in mid-2015.
The introduction of the law is aimed at deterring market manipulation and cartel practices that may affect market efficiency. In doing so, it is expected to create a better business environment and to attract more foreign direct investment (FDI) into Brunei by lowering the cost of doing business and improving consumer welfare. This is set against the backdrop of the government's efforts to enhance its national economic competitiveness, in line with its Wawasan (Vision) 2035.
The Brunei Competition Order provides for the functions and powers of the Competition Commission and the Competition Tribunal to enforce the national competition law. The Order prohibits the three key harmful acts:
1. Anti Competitive agreements
2. Abuse of dominant power
3. Anti competitive mergers
The implementation of the Order and the enforcement of the mentioned prohibitions will commence in phases. The recruitment and formation of the Commission is currently in progress.
CONTACT USDepartment of Economic Planning and DevelopmentPrime Minister's OfficeBlock 2A, Jalan Ong Sum PingBandar Seri Begawan BA1311Negara Brunei Darussalam
Tel No : +673 2233344