The value proposition of CCCS is to provide a robust and enlightened competition regime that forms the enabling framework to grow a vibrant economy with competitive markets and innovative businesses. This will strengthen the ability of domestic companies to compete in the international market. It will also attract foreign investment to Singapore because companies know that they will compete on a level playing field.
Functions and Duties:
The functions and duties of the CCCS are to:
- Maintain and enhance efficient market conduct and promote overall productivity, innovation, and competitiveness of markets in Singapore.
- Eliminate or control practices having adverse effect on competition in Singapore.
- Promote and sustain competition in markets in Singapore.
- Promote a strong competitive culture and environment throughout the economy in Singapore.
- Act internationally as the national body representative of Singapore in respect of competition matters and consumer protection matters;
- Promote fair trading practices among suppliers and consumers and enable consumers to make informed purchasing decisions in Singapore;
- Prevent suppliers in Singapore from engaging in unfair practices;
- Administer and enforce the Consumer Protection (Fair Trading) Act (Cap 52A); and
- Advise the Government, other public authorities or consumer protection organisations on national needs and policies in respect of competition matters and consumer protection matters generally.