May 10, 2012

Historic Point for Competition Policy in the Philippines

At a gathering of Liberal Party (LP) members to discuss Competition Law in the country, competition expert Tony Abad said that Congress under the Aquino Administration will make history when it passes House Bill (HB) 4835, a bill that penalizes anti-competitive agreements and mergers and abuse of dominant position.

The event hosted by the Friedrich Naumann Foundation for Freedom (FNF) on 10 May 2012 was organized to update liberal legislators and their chiefs of staff on the status of the bill. It highlighted how competition could strengthen the economy by allowing wealth to trickle down. The strongest economies are those where the mass base can participate in economic affairs. It takes us to the concept of freedom. When you deprive the larger percentage of our population from being able to participate in the economy, then you deprive them of freedom, you deprive them of democracy,” emphasized Abad.

Rep. Tom Apacible who is spherding” HB 4835 in the House, said that the bill would signal to foreign investors that the country is trying to level the playing field. Rep. Dina Abad, LP Vice President for Policy, Programs, and Advocacy, stressed how individual market forces can be effective economic tools, and that competition law is “at the heart of the Liberal Party.”

The Freedom Project was also launched that evening. Nominations on programs of national and local government and civil society organizations that allow communities to experience the benefits of freedom are open until 31 July 2012. Visit the web page here.