Competition - an important instrument for greater prosperity
Competition is an important instrument to stimulate effectiveness and development. It creates well-functioning markets, which are a prerequisite for greater economic prosperity.
When more companies are able to offer their goods and services competition increases, in the longer term leading to higher productivity. In turn, higher productivity benefits consumers and companies as it increases the quality of goods and services and forces prices down. In short, companies and consumers get more for their money. In addition, positive economic effects are created when more innovative companies in competition with each other are able to develop new products and services, which creates new industries, leading to increased employment and economic growth.
The path to a dynamic business sector in which competitive and entrepreneurial companies are the winners therefore leads through effective competition. The task of competition policy is therefore to take pro-competitive measures across the board that create growth.
