The Foreign Investors’ Chamber of Commerce and Industry (FICCI) has called for amendments to the Competition Act 2012 to enable fair competition.

This demand came from a consultation session with the Bangladesh Competition Commission to discuss the “Competition Act 2012 and the Functions of the Bangladesh Competition Commission” with the FICCI.

The session was chaired by FICCI President Zaved Akhtar, with Bangladesh Competition Commission Chairperson AHM Ahsan as the chief guest. The event was held at the FICCI Auditorium on Thursday. The FICCI board member Sumitava Basu, senior Commission officials, and representatives from FICCI’s member companies attended the programme.

Speaking on the occasion, the Commission Chairman Ahsan highlighted the law's importance in strengthening market fairness.

"The Competition Act is a cornerstone for a healthy free-market economy," he said.

"Enacted in 2012, it empowers the Commission to curb cartels and syndicates, protect consumer interests, and foster investment. Effective enforcement will encourage innovation, create jobs, and drive sustainable economic growth", he added.

FICCI President Zaved Akhtar reaffirmed the Chamber's commitment to fair business practices. "Our members believe in fair competition and a level playing field. We want a strong and effective law that protects both industry and consumers, while ensuring regulations do not unintentionally hinder business growth," he stated.

The FICCI represents nearly 200 leading companies from 35 countries across 21 sectors.

The session, moderated by FICCI Executive Director TIM Nurul Kabir, included constructive input from Commission officials and FICCI members, who shared their perspectives on the law's implementation and potential amendments.