Antitrust lessons from Covid-19: Key takeaways in Singapore and potential implications for future disruptions
22 March 2023
Disruptions from the Covid-19 pandemic presented a unique set of challenges for antitrust enforcement globally. When supply chains were disrupted, urgent collaborations between businesses were necessary, in particular, for the supply of essential goods and services. Further, in the face of increasing economic challenges due to the uncertainty of Covid-19 developments, many businesses were compelled to restructure or to merge with other firms to tide through the crisis.
In Singapore, the Competition and Consumer Commission of Singapore (“CCCS”) sought to address these challenges through a principles-based approach. CCCS had issued advisory and guidance notes to grant temporary relief to businesses collaborating in response to the pandemic and considered the effect of Covid-19 within its competition assessments. These measures provide valuable insights which will help businesses cope with future economic crises (whether it be for specific industries or sectors, or a broader economy-wide crisis) while remaining compliant with competition and consumer protection laws.
We are pleased to provide an article which highlights key antitrust takeaways in Singapore for businesses moving forward. To read more, please click here.