The Philippine Competition Commission (PCC) will expand its office this year by putting up investigation hubs in Cebu and Davao.
In a virtual forum Friday, PCC chairman Arsenio Balisacan said these new regional offices would strengthen the agency’s institutional capacity in its competition policy enforcement and advocacy.
“In particular, we aim to establish investigation hubs in key commercial centers this year. The investigation hubs in Cebu and Davao are planned to be transformed into PCC Regional Offices next year,” Balisacan said.
He added that competition policy enforcement remains relevant despite the pandemic, and even more so post-pandemic, as the country works for recovery by building a resilient and inclusive economy.
Balisacan said the PCC has received 659 queries and informal complaints, “an encouraging sign for a young agency” as people are becoming aware of what the PCC could do for them.
“As we transition to the new normal, I would like to assure you that the PCC will continue to be vigilant in market monitoring, enforcement, and evidence-based advocacy. We will always be mindful and work for the protection of consumer welfare, a fair playing field for businesses, and pro-competitive government interventions. An equal playing field during and post-pandemic will ensure a faster and more stable economic recovery,” he said.
The PCC, he added, is looking forward to the lifting of the suspension of the motu proprio review come September.
Under Bayanihan Act 2, the PCC’s review for mergers and acquisitions was suspended for one year.
“By then, we will be able to review merger transactions in the past year and identify those that may have led to anti-competitive effects,” he said.
The PCC has so far received 225 merger and acquisition transactions, with deals amounting to PHP4.6 trillion.
Source: Philippines News Agency
