The Philippine Competition Commission (PCC) showcased its success in integrating competition principles into the national economic strategy at the Competition Policy Symposium 2024 held in Bangkok, Thailand.
The integration is a key feature of both the 2017-2022 and 2023-2028 Philippine Development Plans (PDP) that underscore the crucial role of competition in advancing digitalization, attracting investments, and protecting consumer welfare.
PCC executive director Kenneth Tanate noted the agency’s commitment to enhancing consumer welfare and attaining market efficiency by diminishing anti-competitive practices, reducing barriers to entry and reentry and lessening regulatory burdens.
He also acknowledged the unique challenges and opportunities presented by digitalization, highlighting the potential for both increased competition and heightened risks of market consolidation and collusion.
Tanate detailed the PCC’s proactive approach to regulating competition in digital markets, utilizing tools like forensics and data analytics to investigate cases, and actively engaging with stakeholders to promote fair competition.
The agency’s track record includes addressing mergers and acquisitions in online shopping and banking, as well as conducting studies in telecommunications and advertising.
The symposium, organized by the Trade Competition Commission of Thailand and the International Trade Centre, served as a platform for international experts to share insights and strategies on competition policy in the digital age.
