Friday, January 16, 2015
Outlook for the competition law.
A key legislative item in the upcoming congressional session (January 19 to March 22) is passing the comprehensive competition law. The Senate unanimously passed its version on December 15, while the House of Representatives will commence the third and final reading of its similar bill after reconvening. The bill's supporters argue it will allow small and medium enterprises greater scope to compete, and attract more foreign direct investment in areas including transport, telecommunications, energy and food. Moreover, there is some impetus at the ASEAN level.
- The competition law could help reduce food prices by opening the market.
- In turn, this could help alleviate poverty levels, a key policy of Aquino.
- Passage of the competition bill could spur port infrastructure improvements.