Philippine Competition Commission
| Komisyon ng Kumpetisyon ng Pilipinas | |
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| Agency overview | |
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| Formed | January 27, 2016 |
| Headquarters | DAP Building, Ortigas Center, Pasig City |
| Agency executive |
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| Website | phcc |
The Philippine Competition Commission (PCC) is an independent, quasi-judicial body formed to implement the Philippine Competition Act (Republic Act No. 10667). The PCC aims to promote and maintain market competition within the Philippines by regulating anti-competition behavior. The main role of the PCC is to promote economic efficiency within the Philippine economy, ensuring fair and healthy market competition.
The Philippine Competition Commission institutes a regulatory environment for market competition in order to protect consumers, whereby they are aimed to be given access to more options over what goods or services to patronize. It would also have the effect of creating competitive businesses that would encourage economic efficiency and innovation.
The Philippine Competition Commission was formed in 27 January 2016. Since that time, the Philippine Competition Commission has formed offices through which they their mandate.
The Philippine Competition Act (PCA) or Republic Act No. 10667 is the primary competition law of the Philippines. It aims to promote and protect market competition in the country. It protects the well-being of consumers and preserves the efficiency of competition in the marketplace.
The Philippine Competition Act was passed in 2015 after being stuck in Congress for 24 years. The Act is expected to improve consumer protection and help accelerate investment and job creation in the country, consistent with the goal of the national government in fostering an inclusive form of economic growth.
Enforcement of this law would help ensure that markets are open and free, challenging anti-competitive business practices, while maintaining an economic environment where businesses could compete based on the quality of their work.
A competitive market means a market with multiple buyers and multiple sellers, which has the effect of driving market prices lower and offering consumers more choices. For some economists, a "truly competitive market" encourages efficiency and innovation, forcing businesses to excel.
In 2014, a drastic increase in the price of garlic led to former president Benigno S. Aquino III conducting an investigation, which resulted in the discovery of a cartel controlling garlic imports. This led to Senator Paolo Benigno "Bam" Aquino IV authoring the 2014 Philippine Competition Act. This became the first instance wherein the Philippines gained a law specifically on competition.
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