Competition Commission 8th best in the world

The effectiveness of South Africa’s Competition Commission was ranked eighth in a global list made of 148 countries within the World Economic Forum (WEF) Global Competitiveness Report 2013-2014.
The commission has gained prominence in the past few years after taking head a number of industries infested by monopolistic and collusive behavior. It has tackled critical sectors like food, steel, telecoms, airline and industrial chemicals. Most recently the commission tackled collusive behavior in the construction sector in a case that has raised emotions across the country.
The Commission said it noted the ranking with interest. Commissioner, Shan Ramburuth said “it’s encouraging that we are in the top 10 for the effectiveness of our competition law, acknowledging the enforcement record of the competition authorities. The WEF report however, highlights the range of other factors which would intensify local competition and promote market efficiency”.
The report is published by the WEF within the framework of The Global Competitiveness and Benchmarking Network, which produces a number of related research studies aimed at supporting countries in their transformation efforts. The report uses 12 broad categories (“pillars”) to rate competitiveness in 148 countries.
The WEF Global Competiveness Report comes at the back of the Global Competition Review (GCR) 12th annual survey of the world’s competition authorities, in which the Commission maintained its three-star rating.
South Africa’s competitiveness was ranked 53 overall in the the World Economic Forum (WEF) Global Competitiveness Report 2013-2014, overtaking Brazil to second place among the BRICS countries.
News@ujuh.co.za

Leave a Reply

Your email address will not be published. Required fields are marked *