The Competition Policy, therefore, sets out a broad framework with which
'Government will: '
4.2
a) Respond to anticompetitive challenges in me ma'rket place; and
b) Ensure that firms operating in' various sectors of the economy comply
with and adhere to the Policy and regulatory requirements.
5.0 POLICY FRAMEWORK FOR COM PETITION
5.1 The "Competition Policy lays down' broad parameters within which the
'conduct, operaticm'al behaviour and 'practices of firms will be' regulated. Its
framework covers various' aspects, including g'uiding principles; policy
objectives, and strategic policy considerations, which include, inter alia,
alignment of the Competition Policy with other Government policies as well
as interface 'between a Competition Authority and other regulatory bodies.
'
5.2 At the outset, the Competition Policy also recognizes the importance of the
following factors:
a)' Efficiency
This Policy recognizes that efficiency is indispensable to the ability of
any economy to attract investment flows from both domestic and
foreign sources. It also recognizes that efficiency enhances business
growth prospects by engendering product and service competitiveness
as well a
\
b)
Competitiveness
Like effiCiency, competitiveness is a critical success factor in the ability
of any economy to effectively 'compete for the attraction of investment
flows, particularly foreign direct investment. This Policy, therefore,
recognizes the important role of competitiveness in underpinning the
continued growth and sustaii"lability of the economy at both micro and
macro levels.
''
,
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5