News

• Fair Competition Act to boost PHL readiness for ASEAN integration

  June 12, 2015

  – Senate President Franklin Drilon expressed confidence on June 12, 2015 that the country’s preparedness for the ASEAN market integration has stepped up another notch with the Congress’ ratification of the Philippine Competition Act or the Anti-Trust Law.

  Drilon said the approval of the Competition Act on June 10, 2015 “will greatly boost the nation’s preparations as Southeast Asian markets unite under the ASEAN Economic Community (AEC) by the year’s end.”
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• Domestic firms ignore AEC challenges: Experts

  June 11, 2015

  – HA NOI — Vietnamese businesses are oblivious to the pressures of competitiveness in the wake of ASEAN moving up the ladder from AFTA to ASEAN Economic Community (AEC) by the end of 2015.

  A research by National University revealed that up to 60 per cent of Vietnamese enterprises believed that the AEC’s establishment will not have much effect on the country.
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• Integrated ASEAN can pack a punch

  June 10, 2015

  – HCM CITY — Ahead of next month’s meeting of the ASEAN Economic Integration task force, Netherlands-based consultancy TMF Group has published a briefing paper titled “The ASEAN Economic Community: Capturing the zeitgeist of rising Asia” exploring how international businesses can best harness the potential of this growing region.
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• PHL Competition Act ready for PNoy’s signature

  June 10, 2015

  – After a 24-year wait, a national competition policy prohibiting anti-competitive agreements or conducts and other unfair business practices will soon become a law with the House of Representatives’ ratification of the proposed Fair Competition Law on June 10, 2015.

  The consolidated bill’s ratification comes after its approval by the Bicameral Conference Committee during a nine-four marathon session on June 8, 2015.
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• Vietnam honors FTA commitments with strong tariff cuts

  January 10, 2015

  – As of January 1 this year, Vietnam has cut tariffs for thousands of items to fulfill commitments in several multilateral free trade agreements (FTAs) the country has signed.

  In line with commitments to the ASEAN Trade in Goods Agreement (ATIGA) in 2015-2018, the Ministry of Finance has issued Circular 165/2014/TT-BTC slashing the import duties for 1,715 more tariff lines, including those for farm produce and fuel products, to zero from 5%. Together with 6,859 tariff lines removed between 2012 and 2014, the fresh cut has sent 90% of the tariff lines in ATIGA down to zero.
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• The Labyrinthine Pharmaceutical Distribution

  November 1, 2014

  – The recent arrest of the chairman and general director of Vietnam Pharma, a local pharmaceutical joint stock company, for allegedly forging bidding documents and smuggling drugs has thrown new light on hidden corners of pharmaceutical import and bidding in Vietnam. A deeper look into the local medicine investment and distribution network has unveiled a convoluted issue.
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• 10 financial advisory firms may have breached anti-competition law

  May 29, 2015

  – TEN prominent financial advisory (FA) firms have been provisionally found by the Competition Commission of Singapore (CCS) to have made an anti-competitive agreement against one of their own two years ago.
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• ‘Unfair competition’: Italian court places nationwide ban on lowcost Uber service

  May 26, 2015

  – An Italian court has placed a nationwide ban on Uber’s low-cost UberPOP car-sharing service, alleging it creates “unfair competition” for the country’s traditional taxi drivers. The ruling also prohibits other car-ride services by unlicensed drivers.

  On Tuesday, Judge Claudio Marangoni ruled that UberPOP – one of the services offered by the San-Francisco-based company – violated the administrative rules that regulate the taxi industry.
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