The Philippine Competition Commission (PCC) spearheads the observation of the National Competition Day in the Philippines today through an event that brings together development partners, sector regulators and government agencies committed to promoting fair market competition in the country.

It is the first time for the Philippines to observe the National Competition Day under the Philippine Competition Act (PCA) and with the PCC.

For the occasion, PCC leads development partners, sector regulators and partner government agencies through a ceremonial signing of pledge of commitment and a declaration of support for competition at the Oakwood Premier Joy-Nostalg Center, Ortigas, Pasig City from 1 p.m. to 4 p.m. today.

Sector regulators include the Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), National Telecommunications Commission (NTC), and the Insurance Commission (IC). Among the partner government agencies are the National Economic and Development Authority (NEDA), Department of Finance (DOF), Department of Trade and Industry (DTI), Department of Justice-Office for Competition (DOJ-OFC), and the Office of the Solicitor General (OSG).

Also set as partners for competition are development agencies such as the World Bank (WB), Asian Development Bank (ADB), Australian Department of Foreign Affairs and Trade (AUS-DFAT), United States Agency for International Development (USAID), European Union-Trade Related Technical Assistance (EU-TRTA), British Embassy, Deutsche Gesellschaft fur Internationale Zusammenarbeit (Germany-GIZ), and the Organisation for Economic Co-operation and Development (OECD).

The National Competition Day was officially declared by Proclamation No. 384 by former President Benigno Aquino III in 2012, as part of the observation among competition authorities around the world.

“Let us push for economic growth that is more enduring and more inclusive by fostering a culture of competition in our country,” PCC Chairman Arsenio M. Balisacan said.

“The Philippine Competition Act is expected to encourage investment, fuel productivity and drive innovation so that no Filipino is left behind,” he added.

The PCC is a quasi-judicial agency established to implement the Philippine Competition Act, ensure fair and healthy market competition, and level the playing field among businesses engaged in industry, trade and all commercial activities. The Commission plays a crucial role in attaining the goal of sustainable and inclusive growth in the Philippines.