A PYMNTS Company

Philippines: New competition law to encourage young entrepreneurs

By  |  July 21, 2015

The newly signed Philippine Competition Act will be beneficial for the youth as it encourages them to start a business, the National Youth Commission said on Tuesday.

“The law will protect small players and start-ups… A fair market will create inclusion,” Tingson said.

President Benigno Aquino III on Tuesday signed the into law the Philippine Competition Act or Republic Act 10667 which will create the Philippine Competition Commission.

The PCC would look into the anti-competitive business behavior and abuses in dominant positions.

“Businesses, whether big or small, will now be on equal footing as the law penalizes anti-competitive agreements and abuses of dominant players,” Sen. Bam Aquino added.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.