“One of the key components of the overall strategy to make economic growth more enduring and more inclusive is the Philippine Competition Act which was enacted by Congress in July 2015 and became effective in August 2015,” said PCC Chairman Arsenio M. Balisacan in his video message for the Philippine Update Conference 2016 held in Canberra, Australia.

He added, “This legislation seeks to deepen efficiency-enhancing competitive practices so that economic growth becomes more enduring and more inclusive, thereby fostering public welfare both in the short and long run.”

The conference aimed to look into economic milestones and challenges in the Philippines, and ways to move forward in sustaining reforms and momentum for change beyond 2016. It was organized by Philippine Project (a joint initiative between Department of Foreign Affairs and Trade and College of Asia and the Pacific), University of Canberra, and Australian National University.