The Philippine Competition Act (PCA) or R.A. 10667 is the primary competition law of the Philippines for promoting fair competition in the marketplace and protecting well-being of consumers in the process.
The PCA was passed in 2015 after languishing in Congress for 24 years. It is a game-changing legislation envisioned to improve consumer protection and help accelerate investments and job creation in the country, consistent with the national government’s goal of creating more inclusive economic growth.
Enforcement of this law helps ensure that markets are open and free, challenging anti-competitive business practices while maintaining an environment where competition is driven by business acumen. A competitive market means a market with multiple buyers and multiple sellers, driving market prices lower and offering consumers more choices. A truly competitive market encourages efficiency and innovation, and forces businesses to excel. The act reflects the belief that competition:
- promotes entrepreneurial spirit;
- encourages private investments;
- facilitates technology development and transfer, and
- enhances resource productivity.