The emerging digital economy has paved an array of opportunities and avenues that will fundamentally alter the way markets function. It is reshaping the competitive dynamics in the economy, creating new markets and transforming existing ones. There is a growing consensus that some competition policy framework needs to be revisited.
This session explores the specific characteristics of digital economy markets, how these characteristics impact competition policy and legislation, and its role in shaping a new stage in the development of the global economic system.
The fight against bid rigging and corruption are two important policy goals of any government. In order to have consistent policies we first need to understand the relationship between corruption and bid rigging. Are they positively correlated or are they independent of each other? Should we target corruption in order to reduce the risk of bid rigging or the other way around?
This session explores the nuances of bid-rigging and corruption, the way forward in upholding an open and healthy competition network and how competition legislation is indispensable in ensuring that policies related to tenders and integrity are intact and effective in combating leakages in government spending.
Leniency regimes are foreign to many businesses in Malaysia. However, it is generally well accepted in many other international jurisdictions. Many are unaware of the workings and benefits of leniency regimes which are an important tool for competition agencies to tackle cartel activities that harm consumers and have pernicious effects on economic efficiency. When cartel behaviours in the market are addressed, the process of competition is protected and businesses benefit accordingly.
This session seeks to discuss the challenges in implementing successful leniency regimes and means of improvement that will increase its attractiveness for potential applicants.
Malaysia is on the verge of introducing a comprehensive merger regime. This will have an impact on the economy on multiple fronts. Mergers or acquisitions are often deemed as a major catalyst for the economic growth of a nation. In most jurisdictions, merger control regimes are a major component of competition policy which seek to prevent consumer harm from transactions that will severely lessen competition in the market.
This session seeks to explore the objectives of merger regimes and the extent of its effectiveness in avoiding market concentration or even monopoly and addressing its competition concerns through the imposition of a remedy or the prohibition of the transaction. What is an ideal framework for merger control? How should the government and practitioners work together in fostering an efficient merger regime in the economy?
The COVID-19 crisis is an unprecedented economic shock that left a disruptive impact on the economy leading to the financial distress of many firms and forcing many firms to exit the market or merge. The role played by competition authorities in preserving competitive market structures by using their merger control powers is therefore even more relevant. Without a thorough merger review, there is a serious risk that the economic crisis would result in higher market concentration and market power in several sectors, which might cause price increases, harm innovation and productivity, and aggravate inequality. On the other hand, mergers and acquisitions activities are deemed necessary by industry players and some governments to mitigate the impact of the crisis on the economy and relevant industries.
This session seeks to explore the workings of mergers and acquisitions, the challenges in emerging markets, first-hand experiences, best practices, and recommendations for navigating deals through both internal and external challenges and the impact on the landscape of the market.
The rapid growth of digitalization has presented a multifaceted challenge for competition authorities and policymakers. They must grapple with uncertainty in the rapidly evolving markets, address new forms of misconduct, and examine markets whose precise boundaries are unclear. To address competition issues in digital markets, some jurisdictions have amended their competition legislation by introducing and defining new concepts or enforcement tools, addressing gaps in legal frameworks or enforcement, and adjusting to the business models and particularities of digital platforms. Other jurisdictions have adopted regulations or guidelines to regulate certain types of conduct by digital platforms that affect competition and consumers, such as self-preferencing, price parity, market opacity, data portability and interoperability.
This session seeks to discuss emerging trends in the digital economy which amongst others include data privacy, advertising, price fixing, cloud computing in Malaysia and other parts of the world. Does a one-size-fits-all approach work? What is the way forward to address these issues in Malaysia and countries in Asia that are in the early stages of digital maturity?
The Malaysia Competition Commission (MyCC) has published seven market reviews to date. Many of the recommendations and findings have been repeatedly referred to by policy makers and industry players alike in addressing issues in the relevant markets. The positive impact of our market reviews has been widely recognized in Malaysia and political will is needed for the recommendations to be cast in stone.
This session seeks to discuss the role of market reviews in identifying and diagnosing emerging competition issues and initiating solutions that can impact a nation’s economic development. Are market reviews effective in warranting investigations? What is the role of the government in adopting the findings and recommendations of market reviews? Are market reviews deemed as a “smart” approach in addressing market concerns?
Emerging competition issues in the new economy such as bid rigging, price fixing cartels, abusive monopoly, digital economy, mergers and acquisitions have raised significant competition concerns and are key priorities for most competition authorities. Competition authorities are under pressure to intervene quickly for a variety of reasons.
This session seeks to discuss the effectiveness of existing competition law enforcement in regulating competition in the market in view of emerging competition challenges globally. Are the traditional competition law enforcement and merger regime adequate to deal with these emerging competition issues? What are the main challenges faced by competition authorities when they apply their traditional analytical tools to competition or merger control cases in the current landscape? Should competition agencies in developing countries emulate the same approach and principles?