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/ PCC forum promotes competition compliance in private sector

PRESS RELEASE
19 July 2024

PCC forum promotes competition compliance in private sector

Speakers at the “Fair Business Forum: Competition Compliance in Focus” (FBF) on July 10, 2024 in Parañaque City (from left): Lawyer Stephen Crosswell, Lawyer Hee-Eun Kim, PCC Chairperson Michael G. Aguinaldo, PCC Executive Director Kenneth V. Tanate, and PCC Knowledge Management Division Officer-in-Charge Paul Andrew F. Lucena.

The Philippine Competition Commission (PCC) last July 10 organized a forum to encourage businesses to adopt competition compliance programs designed to deter anti-competitive conduct.

PCC Chairperson Michael G. Aguinaldo, in his opening remarks, described this initiative as part of the PCC’s commitment to cultivating a culture of competition within the business community. Under the Philippine Development Plan 2023-2028, the PCC is tasked with raising awareness about the Philippine Competition Act (PCA) through the promotion of competition compliance programs among business chambers and trade associations.

“There may be a misconception that competition law seeks to hinder the natural growth of businesses and the free market, but this could not be further from the truth. Rather, competition law seeks to ensure that the free market operates in a way that is fair for every stakeholder in the long-run—for businesses and consumers alike,” Aguinaldo said during the inaugural session of the “Fair Business Forum: Competition Compliance in Focus” (FBF) held in Parañaque City.

Effective compliance programs, as lawyer Stephen Crosswell highlighted, can significantly reduce a company’s risk of legal trouble by preventing violations of competition laws. These programs, which involve elements like training and risk assessments, should be tailored to a company’s size.

Crosswell, a partner at Baker McKenzie’s Hong Kong office, emphasized the importance of integrating compliance into a company’s DNA. “Make it core to your company’s philosophy and culture,” he said. “No employee should be in a position to jeopardize the company’s brand, reputation, or value.”

Lawyer Hee-Eun Kim, formerly of Samsung Electronics and currently director of competition policy for Asia Pacific at Meta, echoed the importance of an effectively implemented compliance program.

“Competition compliance should be central to your company’s culture,” she said. “It’s not just about a one-time assessment; it’s about fostering a culture of commitment and communication from the top down. Compliance needs to become ingrained, like muscle memory.”

PCC Chairperson Michael G. Aguinaldo delivers the opening message at the “Fair Business Forum: Competition Compliance in Focus” (FBF) in Parañaque City on July 10, 2024.

During the forum, PCC Executive Director Kenneth V. Tanate presented an overview of the Philippine Competition Act, while Paul Andrew F. Lucena, Knowledge Management Division officer-in-charge at PCC, shared the agency’s initiatives at developing a toolkit for competition compliance.

Among the trade associations that attended the forum are the following:

      1. Association of International Shipping Lines Incorporated
      2. Chamber of Automotive Manufacturers of the Philippines, Inc
      3. Confederation of Truckers Association of the Philippines Inc.
      4. Federation of Philippine Industries
      5. Federation of the International Cable TV and Telecommunications Association of the Philippines
      6. German-Philippine Chamber of Commerce and Industry
      7. Glass Manufacturers Association of the Philippines
      8. Healthcare Information Management Association of the Philippines
      9. National Association of Independent Travel Agencies
      10. Philippine Association of Water Districts
      11. Philippine Association of Legitimate Service Contractors
      12. Philippine Business Coalition for Women Empowerment
      13. Philippine Chamber of Commerce and Industry
      14. Philippine Exporters Confederation, Inc.
      15. Philippine Homestyle and Holiday Decor Association, Inc.
      16. Philippine Iron and Steel Institute
      17. Philippine Tour Operators Association

PCC Executive Director Kenneth V. Tanate answers questions during an open forum at the “Fair Business Forum: Competition Compliance in Focus” (FBF) in Parañaque City on July 10, 2024.

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REFERENCE:
publicaffairs@phcc.gov.ph
PCC Public Affairs and Research Division



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