MyCC launches Strategic Plan 2021-2025

16 December 2021

• the need to introduce a merger control regime that prohibits mergers that substantially lessen competition;
• the impact of the Covid-19 pandemic which has restricted economic activities, resulting in market consolidation due to companies ceasing operations or merging to survive;
• to study how the Competition Act 2010 (‘the Act’) can operate to encourage the Environmental Social and Governance (‘ESG’) agenda;
• the developments in ASEAN, such as the ASEAN Competition Action Plan (ACAP) and the regional Free Trade Agreements, such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); and
• the implementation of National-Level Economic Plans, such as the Shared Prosperity Vision 2030 and the 12^th Malaysia Plan (12MP). 

• to support the recovery measures as Malaysia emerges from the Covid-19 pandemic to ensure that they do not have the unintended consequences of being anti-competitive; and
• to support growth of new economic sectors such as markets for e-commerce and innovation, and promote the ESG agenda by and for businesses. 

• Increase and communicate the MyCC’s enforcement outcomes effectively.
• Establish a dedicated merger unit/team to assess and review mergers and acquisitions to ensure any change in market structures will not substantially lessen competition in the markets.
• Commence work to study how the Act can encourage and promote the ESG agenda. 

• Provide relevant policy advice for Ministries and government agencies to ensure that their policies are aligned with championing competition in the economy.
• Advise the Government to consider phasing off the enforcement of traditional regulation instruments such as price control regulations, which have the unintended consequence of distorting price in the Malaysian markets and opening the potential avenue for regulatory capture. 

• Educate, advocate and promote to all relevant stakeholders on the importance and benefits of competition in the markets. 

• Amend the Act and the Competition Commission Act 2010 to strengthen the powers for and procedures of the investigation procedures; formalise the roles and functions of the MyCC; and incorporate merger control provisions.
• Implement competition policy and enforce the amended legislation accordingly. 

• Work closely with other sector regulators, Ministries and government agencies to ensure consistency in the application of competition policy and law in the Malaysian markets.
• Advise and provide competition-related policy recommendations on digital markets to the Policy Advisory Board of the National Digital Economy and 4IR Council.
• Collaborate with the Malaysian Productivity Council (MPC) in the latter’s effort to roll out the regulatory impact analysis (RIA) programme across all Ministries and government agencies to ensure that the RIC will include competition analyses wherever appropriate. 

• Undertake a market study to develop understanding and identify potential competition issues in the e-commerce sector and digital markets.
• Identify other sectors or industries that are priority for market sectors. 

• Broaden and deepen the MyCC’s cooperation and collaborative work at international and regional levels to keep updated with the current economic and legal concepts and thoughts. 

• Update the MyCC’s human resource policy to attract, develop and retain talent to ensure that it can perform its functions and responsibilities efficiently and effectively.
• Develop and establish a risk management function within the organisation. 

• Review and update any outdated Standard Operating Procedures (‘SOPs’) and introduce new SOPs as necessary to ensure consistency in the application of law.
• Undertake periodic review of the MyCC’s SOPs to ensure that they remain current with the market environment. 

• Develop an integrated information technology system on operational and knowledge management to ensure seamless work activities for all the divisions of the MyCC taking into consideration remote working and work from home.