KPPU to cooperate with all parties to supervise business competition

Jakarta (ANTARA) – Chairman of the Enterprise Competitors Supervisory Fee (KPPU) M. Fanshurullah Asa acknowledged that his fee will cooperate with all related events in supervising enterprise competitors within the digital financial system sector.

“We are going to cooperate, synergize with all related stakeholders, (by) penta helix (collaboration). Academicians, companies, authorities, civil society, and together with the media,” he acknowledged right here on Thursday.

Asa conveyed the assertion to the press after he and eight members of the KPPU had been inaugurated by President Joko Widodo (Jokowi) on the State Palace, Jakarta, on Thursday.

Asa defined that institutionally, the KPPU will cooperate with ministries and establishments, comprising the Communication and Informatics Ministry, Cooperatives and Small and Medium Enterprises (SMEs) Ministry, Commerce Ministry, the Monetary Companies Authority (OJK), and others, in supervising the digital financial system.

The KPPU chairman additionally acknowledged that his fee is supporting the creation of the Legislation on Digital Markets. He emphasised that each regulation have to be designed for the long run by anticipating all potentialities that might happen as much as the following 25 years.

“By creating the Legislation on Digital Markets, we are able to anticipate what’s going to occur in 5, 10, 25 years,” he acknowledged.

Moreover, the KPPU chairman underscored that in realizing wholesome enterprise competitors, all enterprise gamers should understand effectivity and take part in realizing wholesome competitors, together with within the digital markets.

He affirmed that thus far, the KPPU has performed supervision within the digital financial system sector, for example, supervision towards on-line loans with unreasonable rates of interest, in addition to buying and selling actions in e-commerce.

“In essence, we are going to shield the nationwide pursuits, supervise enterprise competitors nicely. The value facet have to be supervised, (together with) mergers and acquisitions have to be supervised to make sure they’re reported to the KPPU as a result of the fines are large (if not reported),” he acknowledged.

He known as on enterprise gamers to compete healthily and to not do monopoly of their respective sectors.

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Translator: Rangga P, Yashinta D, Raka A
Editor: Azis Kurmala
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