In celebration of the World Competition Day, Sen. Bam Aquino announced that the Senate is moving forward with measures to remove barriers to competition in telecommunications and data transmission services.
"I am happy to announce that the Senate will start tackling the Open Access Bill in my Committee next week." said Sen. Bam Aquino, the principal author of Senate Bill No. 171, otherwise known as the Open Access in Data Transmission Bill.
On Tuesday, the Committee on Science and Technology, chaired by Sen. Aquino, will hold its first hearing on the Open Access in Data Transmission Bill, which will formulate regulations to encourage the entry of more players in different segments of our telecommunications and data transmission industry, while ensuring that safeguards are in place to maintain fair competition."
"The price of internet service in our country has been tagged as one of the most expensive in our region. Healthy competition is our best bet to promote affordability and finally improve services for the Filipino consumers," said Sen. Bam, who is the principal sponsor and co-author of Republic Act 10667 or the Philippine Competition Act in the Senate during the 16th Congress.
It was during Sen. Bam's tenure as chairman of the Committee on Trade, Commerce and Entrepreneurship that the Philippine Competition Act was passed into law. This landmark legislation took twenty-five (25 years) to pass.
The Philippine Competition Act is expected to eliminate cartels, and penalize anti-competitive agreements and abuses of dominant players in the markets that lead to high prices of goods and services.
In addition, the law promotes a culture of healthy competition that inspires ingenuity, creativity, and innovation in addressing market needs.
The measure will also prohibit anti-competitive agreements and abuses of dominant position that distort, manipulate, or constrict the operations of markets in the Philippines.
Source: Senate of the Philippines