KUALA LUMPUR, Aug 19 — The market review done by the Malaysia Competition Commission (MyCC) looks into price competitiveness and anti-competitive conduct in the service sector to ensure that consumers are not being taken advantage of by unscrupulous businesses.
Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Linggi said the market review also suggests ways by which the country can facilitate structural reforms that ensure efficiency and resiliency.
He said this includes developing a comprehensive and structured plan for e-commerce within the Wholesale and Retail Trade (WRT) industry.
“By identifying the level of competitiveness of the service sector as what the MyCC has done through this market review, the government hopes that this will enable consumers to have more choices in terms of the products that they buy.
“…..to have more quality products available to them in the market and for these products to be competitive in terms of pricing,” he said when officiating the Market Review on the Service Sector in Malaysia under the Competition Act 2010, today.
Nanta said MyCC will present in detail the growing trends of e-commerce, adoption of new technologies and consumer behaviour, especially during the Covid-19 pandemic, all of which have contributed to the current landscape of the WRT industry.
He said for this particular market review, there were four primary products that have been identified using MyCC’s hybrid method of quantitative and qualitative analysis namely processed food and beverages, household cleaning products, personal care and toiletries, and clothing.
Through the market review, Nanta said it would help to understand how Malaysia’s e-commerce sector was becoming one of the fastest-growing in Asean and how it has helped to redefine the retail industry landscape in the country.
Based on industry reports, he said almost 50 percent of the population were online shoppers, and that e-commerce had been a significant factor in lowering the cost of goods and services, consequently strengthening the economy and providing more equal opportunity for more players to enter the market.
He added that the survey conducted in line with the review shows that 93 percent of micro, small and medium enterprises (MSMEs) solely depended on brick and mortar stores to conduct their businesses.
As a result, he said the market review fully supports MSME endeavours to break into or to expand by utilising online channels and e-commerce platforms, as well as promoting healthier competition in the service sector.
“Malaysia is currently ranked at number 12 among 190 countries in the ease of doing business, and we certainly hope to further improve this position as the government is committed to doing so by improving policies, regulations and processes,” he added.
— Bernama
