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Senate to prioritize bills encouraging entrepreneurship, competition

business / Personal Finance
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Senate to prioritize bills encouraging entrepreneurship, competition

/ 01:49 PM July 23, 2012

MANILA, Philippines – Senate President Juan Ponce-Enrile on Monday said the Senate will prioritize two business-related bills; one will prohibit and discourage mergers that promote anti-competitiveness in the market while another is meant to harness local entrepreneurship.

Speaking before the Senate during the resumption of the 15th Congress’ third regular session, Enrile said they will prioritize the passing of Senate Bill 3098 or the Competition Act.

“In order to protect our people, we must ensure that prices dictated by the market and not fixed as a result of any corporation’s control over the quantity of products produced. We must not allow colluding firms to divide businesses solely among themselves. Nor should we permit them to abuse their dominant status by artificially creating barriers against other firms who want to do business,” Enrile said in his speech.

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“Furthermore, we believe in improving our country’s capacity to create good and services. If our country is to ride the crest of an economic boom, we must eradicate practices that make us passive consumers of the world market,” he added.

On the other hand, local businessmen should likewise be protected hence the need to immediately pass on third reading Senate Bill 3071 or the Philippine Design Competitiveness Act Of 2011 filed by Senators Manny Villar and Teofisto “TG” Guingona.

“We should be on the look-out for the genius of the Filipino entrepreneur and ensure that he is able to enjoy the economic benefits that can be derived from his creation,” Enrile said.

Meanwhile, the Senate will also approve on third reading Senate Bill 2842 or the Intellectual Property Code, which seeks to elevate the Department of Trade and Industry’s copyright section to a servicing bureau or the Bureau of Copyright, under the Intellectual Property Office.

“The creation of the Bureau of Copyright will facilitate the immediate resolution of cases involving issues on copyright, licensing, and collective management agreements,” Enrile said.

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TAGS: Competition Act, Entrepreneurship, Personal finance, Senate President Juan Ponce-Enrile, Senate priority bill
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