Businesses risk violating new competition law

Businesses have been warned they have one year to get to grips with Burma’s new competition law, which aims to enshrine competition in the economy. Adopted in late February, the law ostensibly inhibits market dominance through monopolies, unfair competition or mergers, and contains a one-year preparation period. International tax advisory firm VDB Loi released a brief warning clients that “those in beverages, aviation, banking, telecommunications, utilities, and distribution may have to self-examine their practices very closely for compliance with the Act.”