The Philippine Competition Commission is set to issue the draft implementing rules and regulations on the Philippine Competition Act, which seeks to promote fair business and penalize anti-competitive practices.
PCC said it was inviting business groups and other stakeholders to attend consultations in Manila, Cebu City and Davao City on May 16 to 24.
Inputs of businessmen and other stakeholders will be important contributions to fine-tuning the IRR, it said.
The final and approved version of the IRR, which will be released in June, will allow PCC to fully implement the Philippine Competition Act.
PCC chairman Arsenio Balisacan said public consultations would be a healthy exercise for ensuring sound implementation of the law and effective operation of the PCC, which would have jurisdiction over all industries in matters related to competition.
“On one hand, the consultations will help educate Filipinos on the provisions of the Philippine Competition Act, as well as on the vital role of the country’s newly created anti-trust authority—the PCC—in pursuing consumer protection and in opening various industries to more investments,” Balisacan said.
“On the other hand, the consultations will also help PCC get valuable inputs from our stakeholders,” he said.
The Philippine Competition Act, which was enacted last year, is a game-changing legislation seen to help boost investment generation and job creation across industries by putting in place a regulatory environment conducive for fair market competition.
Balisacan said the law complemented the goal of sustaining robust economic growth in the Philippines and making economic growth benefit a bigger proportion of the population.