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A
s we enter our second decade, CCS remains committed
to bring about open and competitive markets to power
Singapore’s vibrant economy.
The recommendations of the Committee on the Future Economy
(“CFE”) has provided an exciting vision of a Singapore economy
that is internationalised, digitalised, and with industries that are
transforming for growth.
For CCS, several significant decisions in 2016 touched on the rapidly
evolving digital economy, which has seen disruptive technologies alter
the competitive landscape, and bring on new opportunities and risks.
Our theme for this year’s Annual Report, “The Game Changer”, aptly
describes this trend.
E-commerce will be a critical part of the internationalisation
strategy for Singapore businesses. This is why CCS is working with its
counterparts in the region, to advocate pro-competition and pro-
growth e-commerce policies. CCS embarked on the development of
a regional handbook on e-commerce for government agencies in the
ASEAN Member States, providing best practices on implementing
competition policy and law relating to e-commerce. To this end,
CCS and the ISEAS - Yusof Ishak Institute signed a Memorandum of
Understanding in 2016 with the aim of deepening research on ASEAN-
related topics, including competition policy and law, and in particular,
on e-commerce.
We also expect that competition policy will increasingly have to
consider the implications of Big Data, especially as Singapore presses
on with its Smart Nation vision. We believe that our competition
regime must remain an enabler for businesses to harness the full
potential of Big Data. Hence, CCS plans to commission research on
Big Data in the coming year, so as to deepen our understanding of
the issues.
CCS has also continued to keep competition policy and regulations up
to date. Following a comprehensive review, the new CCS Guidelines
came into effect on 1 December 2016. I would like to thank all
stakeholders for providing valuable feedback and suggestions during
the extensive consultation period. CCS will next be undertaking a
review of the Competition Act. I am confident that the review will
balance out costs against the benefits of effective competition.
APPRECIATION
On 1 August 2016, CCS officially welcomed three new Commission
members: Prof. Euston Quah, Prof. Wong Poh Kam and Mr. Kan Yut
Keong. I am confident that their expertise and industry experience in
the areas of economics, business and accounting would be valuable
additions to the Commission. At the same time, I would like to thank
three Commission members – Mr. Wong Yew Meng, Prof. Tan Cheng
Han and Prof. Phang Sock Yong, who stepped down from the board,
after many years of valuable service.
To all our partners and stakeholders, I thank you in advance for your
support, in helping us in our mission to “make markets work well”.
MR AUBECK KAM TSE TSUEN
Chairman
63
Total No. Of
Completed
Cases
Merger
Applications
7
Anti-
Competitive
Agreements
3
Competition
Advisories
27
Market
Studies
3
ANNUAL REPORT 2016
03