Scribd
Upload
70 views2 pages

May31.2015 Bphilippine Competition Act, A Tribute To The Late Hon. Enrique Cojuancgo

Speaker Feliciano Belmonte, Jr. lauded the passage of the proposed "Philippine Competition Act" contained in HB 5286, saying it will level the playing field among firms and encourage investment. The Act's passage is a tribute to the late Hon. Enrique "Henry" M. Cojuangco, chairman of the Committee on Economic Affairs. HB 5286, authored by almost 90 members including Speaker Belmonte and the late Cojuangco, will establish a Philippine Competition Commission to promote competition and prevent economic concentration that distorts free markets in the Philippines.

Uploaded by

pribhor2
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
70 views2 pages

May31.2015 Bphilippine Competition Act, A Tribute To The Late Hon. Enrique Cojuancgo

Speaker Feliciano Belmonte, Jr. lauded the passage of the proposed "Philippine Competition Act" contained in HB 5286, saying it will level the playing field among firms and encourage investment. The Act's passage is a tribute to the late Hon. Enrique "Henry" M. Cojuangco, chairman of the Committee on Economic Affairs. HB 5286, authored by almost 90 members including Speaker Belmonte and the late Cojuangco, will establish a Philippine Competition Commission to promote competition and prevent economic concentration that distorts free markets in the Philippines.

Uploaded by

pribhor2
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 2

MAY 31, 2015

NR # 3848B

Philippine Competition Act, a tribute to the late Hon. Enrique Cojuancgo


Speaker Feliciano Belmone, Jr. lauded the hard work and persistence of members of
the House of Representatives for the passage last week of numerous vital national and
local measures bannered by the proposed Philippine Competition Act contained in HB
5286.
Passage of the bill is a must to leveling the playing field among firms and to
effectively reduce transaction costs and risks for businesses, and encourage more foreign
and local direct investments, said Speaker Belmonte, who is also principal author of one
of the twelve (12) original/separate bills consolidated as HB 5286.
The Speaker, earlier last week, said the proposed Acts passage is also a very
concrete and sincere tribute to the late Hon. Enrique Henry M. Cojuangco, chairman of
the Committee on Economic Affairs, the lead panel which steered the landmark measure
to its final passage.
This landmark legislation is also a meaningful legacy to a good man and leader,
Belmonte declared.
HB 5286 is entitled: An Act promoting a National Competition Policy for the
Philippines, prohibiting anti-competitive agreements, abuse of dominant position and anticompetitive mergers and acquisitions, establishing the Philippine Competition
Commission and appropriating funds therefor.
Authors of the measure stressed that it would enhance economic efficiency and
promote free and fair competition in trade, industry and all commercial economic
activities, as well as establish a National Competition Policy to be implemented by the
government and all of its political agencies as a whole.
The proposed Act would also prevent economic concentration which would control
the production, distribution, trade, or industry that will unduly stifle competition, distort,
manipulate or constrict the discipline of free markets.
Likewise, it would penalize all forms of unfair trade, anti-competitive conduct and
combinations in restraint of trade, with the objective of protecting consumer welfare and
advancing domestic and international trade and economic development, the authors
pointed out.
The approved substitute bill is authored by almost ninety (90) members, namely:
Speaker Belmonte,Jr.; Reps. Salvacion R. Ponce-Enrile; Rufus Rodriguez; Maximo
Rodriguez; Marcelino Teodoro; Dep. Speakers Sergio Apostol and Giorgidi Agaabao;

Ibarra M. Gutierrez III, former Rep. Walden Bello; Reps. Reynaldo V. Umali; Gloria
Macapagal Arroyo; Diosdado M. Arroyo; Teodorico T. Haresco; Niel C. Tupas; Anthony
G. del Rosario; Mark Villar, and Appropriations Chairman Isidro Ungab, and the late Hon.
Cojuangco; among others.
The proposed Act shall be enforceable within the territory of the Republic of the
Philippines and shall apply to all areas of trade, industry, and commercial economic
activity. It shall likewise be applicable to international trade having direct, substantial,
and reasonably foreseeable effects in trade, industry or commerce in the Republic of the
Philippines, including those that result from acts done outside the Republic of the
Philippines. (30) dpt

You might also like