Trade, Commerce and Entrepreneurship

Sen. Bam: Lower prices of goods, services with IRR for PH Competition Act signed

The signing of the Implementing Rules and Regulations (IRR) for the Philippine Competition Act will soon lead to lower prices and improved quality of goods and services for consumers, according to Sen. Bam Aquino.

 “This will bring prices down while improving quality across goods like agricultural products and services like the Internet,” said Sen. Aquino, co-author and principal sponsor of Republic Act 10667 or the Philippine Competition Act.

 “Creating a healthier and more competitive business environment in the Philippines has far-reaching benefits for the start-up community, small businesses, and, ultimately, Filipino consumers,” added Sen. Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

 The IRR of Republic Act 10667 was published in major dailies today (June 3), making the law effective after 15 days or on June 18, 2016.

 Sen. Bam lauded the signing of the IRR, saying “this is another major milestone for everyone that worked on the passage of the Philippine Competition Act.”

 “Congratulations to the Philippine Competition Commission on the signing of the Philippine Competition Act IRR,” he said.

 It took 25 years before Congress finally enacted the Philippine Competition Act into law and it happened under Sen. Bam’s watch as chairman of the Committee on Trade, Commerce and Entrepreneurship.

 The Philippine Competition Act will help sustain the country’s ever-growing economy and ensure a climate that provides a level-playing field for all businesses.

 Sen. Bam called the Philippine Competition Act as a “historic, game-changing legislation for the economy” as it penalizes bad market behavior and abuse of dominant positions.

 The Philippine Competition Act is expected to eliminate cartels, and penalize anti-competitive agreements and abuses of dominant players in the markets that lead to high prices of goods and services.

Sen. Bam added that Philippine Competition Act promotes a culture of healthy competition that inspires ingenuity, creativity, and innovation in addressing market needs.

 The senator earlier said that the Philippine Competition Act will be crucial to incoming President Rodrigo Duterte’s aim to improve the country’s Internet service as the law will encourage the entry of more players in the telecommunications industry.

 The Philippine Competition Commission is also expected to look into the sale of San Miguel Corporation’s telecommunications assets to PLDT and Globe to assess its impact on consumers and the industry.

 

Sen. Bam: Competition law to help Duterte improve PH Internet

A senator believes that presumptive President-elect Rodrigo Duterte can improve the state of country’s Internet with the help of the Philippine Competition Act, which will encourage the entry of more players in the telecommunications industry.

 Sen. Bam Aquino expressed elation over Duterte’s pronouncement that he will encourage the entry of competition if local telecommunication players fail to improve quality of the country’s Internet.

 “We are confident that the Philippine Competition Act, a law we passed last year, through the Philippine Competition Commission, will usher in such competition for the benefit of Filipino consumers for the long term,” said Sen. Bam, principal sponsor and co-author of Republic Act 10667 or the Philippine Competition Act

 Sen. Bam said more players in the telecommunications industry will create competition in the market, which, in turn will result to improved service at affordable prices for consumers.

 It took 25 years before Congress finally enacted the Philippine Competition Act into law and it happened under Sen. Bam’s watch as chairman of the Committee on Trade, Commerce and Entrepreneurship.

 The Philippine Competition Act will help sustain the country’s ever-growing economy and ensure a climate that provides a level-playing field for all businesses.

 “We will continue to develop and push policies to provide the public access to quicker and more affordable Internet services,” added Sen. Bam, who spearheaded several hearings on the slow and expensive Internet service in the country.

 Meanwhile, Sen. Bam also lauded President Aquino’s approval of the creation of the Department of Information and Communications Technology (DICT) into law.

 “After last year’s hearings to investigate the country’s slow and expensive internet, we are finally seeing progress in our quest for improvement of internet services in the Philippines,” Sen. Bam said.

 On March 2015, Sen. Bam filed Senate Bill 1091 or the Magna Carta for Philippine Internet Freedom, which proposed the establishment of a DICT

 “We are happy to learn that RA 10844, an act creating the DICT, was signed into law this week,” said Sen. Bam.

101st Negosyo Center opens Today in Concepcion, Tarlac

The number of Negosyo Centers in the country has breached the century mark with the opening of its 101st branch in Concepcion, Tarlac today (Friday, Oct. 2).

“We are very happy to surpass our target of 100 for the year with three months left. With the rate we’re going, we are on track of reaching 120 before 2015 ends,” said Sen. Bam Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

The Concepcion Negosyo Center, located at the ground floor of the Concepcion Municipal Hall, is the second in the province and sixth in Region III, next to Tarlac City, Balanga in Bataan, Olongapo City, Baler and Maria Aurora in Aurora and Malolos in Bulacan.

Sen. Bam, who hails from Concepcion, will attend the inauguration together with Tarlac local officials, led by Gov. Victor Yap, Vice Gov. Enrique “Kit” Conjuangco and Concepcion Mayor Andres Lacson.

Top Department of Trade and Industry (DTI) officials and representatives from private stakeholders, such as the Concepcion Business Club, Philippine Chamber of Commerce and Industry-Tarlac and the Small and Medium Enterprise Development Council (SMEDC) are also expected to attend the event.

Sen. Bam is the main author of Republic Act 10644, or the Go Negosyo Act, which mandates the creation of Negosyo Centers in all provinces, cities and municipalities in the country.

The Negosyo Center will provide access to linkages to bigger markets and financing for businesses, and a unified and simplified business registration process, thus helping ease of doing business and fast-track government processes in putting up a business.

The senator lauded the DTI for making sure that the Go Negosyo Law is being fully implemented for the welfare of micro, small and medium enterprises (MSMEs) in the country.

“I would like to thank the DTI for tirelessly working for the full implementation of the Law and for allowing my office to closely coordinate in the establishment of Negosyo Centers in different parts of the country,” Sen. Bam said.

Bam to Fight against Removal of Coop’s Tax Exemption

Senator Bam Aquino has committed to fight against any move to remove tax exemption given to cooperatives.

Sen. Bam made the pronouncement amid fears by cooperatives that the tax exemption granted to them by the Cooperative Code of the Philippines will be removed in the proposed Fiscal Incentives Rationalization Law.

 “We will not allow that to happen,” said Sen. Bam, chairman of the Committee on Trade, Commerce and Entrepreneurship.

 “We will make sure the cooperatives retain their tax exemptions,” he added.

Instead of burdening them, Sen. Bam said the government must give all the support small businesses need to prosper.

“Dapat ibigay ng pamahalaan ang lahat ng kailangang tulong ng maliliit na negosyante para umunlad,” Sen. Bam emphasized.

Sen. Bam said he’s taking up the cudgels for cooperatives to continue the legacy of his late uncle Agapito “Butz” Aquino, who, during his time as senator and congressman, pushed for the welfare of cooperatives in the country.

Considered as the father of modern cooperatives, Butz Aquino worked with the Philippine Cooperative Center as chairman until his death in August 17 of this year.

The Philippine Cooperative Center strongly opposes the repeal of Articles 60 and 61 of the Cooperative Code of the Philippines or Republic Act 9520, which aims to rescind the tax exemption privileges of cooperatives in the country.

Republic Act 9520 gives cooperatives with assets of not more than P10 million exemption from all national, city, municipal or barangay taxes.

Cooperatives are also exempt from customs duties, advance sales or compensation taxes on their importation of machineries, equipment and spare parts used by them.

According to data from the Cooperative Development Authority, there are 24,652 registered cooperatives in the country as of December 2014, with over 13 million individual members.

“Hindi tayo papayag na tanggalan ang mga kooperatiba ng tulong dahil ang laki ng tulong nila sa mahihirap nating kababayan,” added Sen. Bam, who worked with cooperatives and poor communities as a social entrepreneur before becoming a senator.

 

Bam to Port Stakeholders: Be Ready for ‘Ber’ Months

With “ber” months just days away, Senator Bam Aquino urged government and private stakeholders to work together to ensure that there will be no repeat of the congestion that hounded Port of Manila last year.

 “Now that we have learned our lesson from last year, we must not let our guard down. This early, we must ensure that congestion will not hamper port operation during the coming ‘ber’ months,” said Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

Usually, Aquino said heavy volume of containers arrive from September to December, in time for the Christmas season.

“Sa ngayon, normal ang operasyon at maluwag pa ang ating mga pantalan.  Ngunit maaaring maulit ang port congestion sa inaasahang pagdagsa ng mga kargamento sa huling bahagi ng taon,” added Sen. Bam.

Early this year, Sen. Bam has initiated a probe on the congestion that occurred at the Port of Manila. After bringing government agencies and private stakeholders in one table, the problem has been ironed out after several months of investigation.

During the last hearing, stakeholders reported that the utilization rate at the Port of Manila is now between 70 to 80 percent. In addition, waiting time for trucks has improved while cargo ships can now load or unload cargoes in just mere hours, instead of days at the height of the congestion year.

Meanwhile, Sen. Bam expects the passage of the Foreign Ships Co-Loading Act or Republic Act 10688 to help decongest the country’s major ports. The law now allows foreign ships carrying imported cargoes and cargoes to be exported out of the country to dock in multiple ports.

“This will save time, costs and energy for our exporters and importers in sending their raw materials, and goods and products in and out of the country,” the senator added.

“By allowing foreign ships to go directly to other domestic ports around the country, it will lower production costs for our entrepreneurs, free up space in the Port of Manila, improve the import and export system of the country,” Sen. Bam said.

It will also turn the shipping industry into a more modern, more equipped and more competitive sector, enabling it to keep up with other ASEAN countries such as Singapore, Thailand and Indonesia.

Bam Renews Call for Updated Fees for Balikbayan Boxes

Senator Bam Aquino renewed his call to update the current minimum fee threshold for balikbayan boxes, making it cheaper and hassle-free for 10 million overseas Filipino workers (OFWs) to send their packages to their loved ones in the Philippines. 

Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship, issued the pronouncement after OFWs expressed alarm over the Bureau of Customs’ plan to tax and randomly inspect balikbayan boxes as part of the agency’s anti-smuggling campaign.

Last Aug. 26, 2014, Sen. Bam filed Senate Bill No. 2373, seeking to update the current de minimis threshold, or the minimal volume of declaration of goods in the customs for consignments, balikbakan boxes and other low-value and low-risk packages.

“Now that the spotlight is focused on the issue, we call on fellow lawmakers to hasten the passage of the measure to make it cheaper and hassle-free for 10 million OFWs to send their packages to their loved ones in the Philippines,” Sen. Bam said. 

Currently, the Philippines has the lowest de minimis threshold in the ASEAN, at PhP10 or US$0.23. The ASEAN average threshold is at a hundred dollars.

In his bill, Sen. Bam wants the de minimis level to increase to a more realistic and relevant figure of P10,000 by amending Sec. 709 of the Tariff and Customs Code.

Through this, Aquino said balikbayan boxes and other packages of OFWs, entrepreneurs and other individuals will be processed by Customs faster with minimum fees.

“The extremely low Philippine threshold has not been changed since 1957 and is clearly antiquated. It needs to be updated to be reflective of current prices,” the senator said. 

The lawmaker explained that thresholds for customs declaration signify increased documentation and processes for shipments at entry points in the country.

“Increased documentation leads to larger turnover and delivery time of goods, and larger administration costs that would yield lower revenue impact for both businesses and government,” Sen. Bam said.

“While we understand that random inspection is part of our efforts to curb entry of illegal goods, we should not burden our honest and hardworking OFWs by subjecting their packages to searches that result in damages, pilferages, and loss of goods, which they purchased and sacrificed for their loved ones back home,” he added.

“In addition to this reform, let’s continue to modernize our Customs systems to make our inspections more transparent and efficient, and supportive to our OFW families,” Sen. Bam, who also presided over the port congestion hearings.

Furthermore, Sen. Bam stressed that it will enable the BOC to focus its efforts in looking out for high-value, high-risk and high-revenue goods for collection and enforcement.

Bam: PH has Talent for New Silicon Valley

The Philippines has more than enough talent and expertise to meet the demand of various technology start-ups, whose expected influx will turn the country into the next “Silicon Valley” of the world.

 “These technology start-ups will have no problem because we have a large pool of talented and skilled Filipinos in the field of information technology (IT), design, and programming and engineering, which they can tap anytime,” said Sen. Bam Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

“Being at par with the world’s best, our IT workers can be a valuable asset for start ups as they try to create a niche in the international and local markets,” added Sen. Bam.

 Aside from talented IT workers, the Philippines also boasts of top Filipino video game designers and animators for online video gaming industry start-ups.

 Sen. Bam made the pronouncement after international business magazine Harvard Business Review reported that the Philippines is fast becoming a destination for technology start-ups. 

The magazine said that technology start-ups have the potential to duplicate the impact of the business processing industry (BPO) in terms of employment generation when it entered the Philippines several years ago.

“Technology start-ups can contribute in solving the country’s unemployment problem as it can provide high-value jobs for thousands of Filipino IT experts, artists and developers,” added Sen. Bam.

 Moreover, the passage of the Philippine Competition Act will make it easier for technology start-ups to penetrate the market and compete with giant IT companies, the senator added. 

Location will not also be a problem for technology start-ups as the Philippine Economic Zone Authority (PEZA) has 200 IT parks in different parts of the country that will suit their needs.

Sen. Bam is a staunch supporter of start-ups as he filed Senate Bill No. 2217 or the Start-Up Business Bill, which grants a two-year tax exemption to any business enterprise that is just starting up.

According to the senator, the bill gives new enterprises the enough time to establish their presence in the market.

“It will also the opportunity for Filipinos to showcase our world class talent and innovative ideas,” Sen. Bam emphasized.

Sen. Bam Committed to Supporting MSMEs in Zamboanga

Zamboanga City – Senator Bam Aquino visited Zamboanga City last Thursday to launch the 4th Negosyo Center in the region and the 73rd in the country.

“We’re proud to have this center up in Zamboanga City. Alam po natin na napakaganda ng potensyal dito,” said Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

Sen. Bam is the main author of Republic Act 10644, or the Go Negosyo Act, which mandates the creation of Negosyo Centers in all provinces, cities and municipalities in the country.

It is the Senator’s advocacy to achieve inclusive growth through enabling and empowering micro, small, and medium enterprises (MSMEs).

“For our MSMEs, it’s not about protection but about competition. It is about enabling them and giving them the support so they can compete in larger markets,” said the neophyte Senator, “How can they compete? They can compete kung meron silang puhunan, kaalaman, at access sa malalaking merkado.”

It is the objective of the newly inaugurated Negosyo Center, located at the DTI provincial office along Veteran’s Avenue, to provide access to bigger markets and financing for businesses while simplifying the business registration process.

As for the major challenge faced by Zamboanga’s entrepreneurs, the Senator hopes to work closely with the local government unit to look into the energy crisis.

“Kung walang kuryente, walang negosyo so I know how important it is,” he said, “We need to take a closer look at it. We will work with Mayor Beng Climaco and Chairman Chris Arnuco to figure out how to handle this better.”

Overall, Sen. Bam believes that spurring a thriving MSME sector is the key to spreading the economic surge the country is experiencing.

“We want to see our MSME succeed because if they are successful, they provide jobs, the local economy will grow, and we create value of our countrymen,” he said, “We’re hoping that through this center, we can provide tangible support to our MSMEs.”

Four Laws in Two Years for Bam

Four laws in two years.

These were just some of the accomplishments of Sen. Bam Aquino, the youngest senator in the 16th Congress, during his first two years in office.

Included in the four laws authored, co-authored and principally sponsored by Sen. Bam is the landmark Philippine Competition Act or Republic Act 10667, which was passed under his watch as chairman of the Senate Committee on Trade, Commerce and Entrepreneurship, after it gathered dust in the legislative mill for almost 25 years.

Recently signed into law by President Aquino, the Philippine Competition Act will level playing field for all businesses by penalizing anti-competitive agreements and abuses of dominant players, aside from eliminating cartels that control supply and prices of goods in the market.

Aside from the Philippine Competition Act, the Foreign Ships Co-Loading Act was also signed into law by the Chief Executive.

The Foreign Ships Co-Loading Act or Republic Act 10668 will allow foreign ships carrying imported cargoes and cargoes to be exported out of the country to dock in multiple ports.

The law aims to reduce logistics costs for producers, create a more efficient import and export system, and lead to lower prices for consumers.  It will also help in decongesting the major ports in the country.

Last year, the Go Negosyo Act and the Philippine Lemon Law were signed into law by President Aquino.

Sen. Bam’s campaign promises of spurring jobs and enterprise development, levelling the playing field, and ease of dong business were further fulfilled with these macro economic reforms together with the establishment of Negosyo Centers all over the country through the Go Negosyo Act.

“Just as we promised, we have worked tirelessly for the passage of these measures that will create jobs and livelihood for fellow Filipinos and a better business climate for our micro, small and medium enterprises (MSMEs),” said Sen. Bam.

In addition, the President is also expected to sign the Youth Entrepreneurship Act soon.

The Youth Entrepreneurship Act, co-authored and principally sponsored by Sen. Bam, is touted to be an effective tool to solve the growing number of jobless youths in the country, which currently stands at 1.32 million.

The enactment of this into law will make Sen. Bam’s portfolio of laws to five in two years.

“Hindi mahalaga ang edad, kung bagito ka man o beterano sa posisyon natin. Ang mahalaga, kailangang nagtatrabaho tayo para sa kapakanan ng sambayanan na siyang naglagay sa atin sa trabahong ito,” added Sen. Bam.

Moreover, the Responsive, Empowered, Service-Centric Youth Act, which aims to institutionalize youth participation in disaster risk and reduction planning, was passed on third reading.

He was also able to file a committee report on the Mircofinance NGOs Act, which aims to empower the sector that provides microfinancing services to micro businesses.

Aside from his legislative work, Sen. Bam also initiated an investigation into the country’s expensive and slow Internet connection.

The investigation has produced several victories that will help improve the country’s Internet service. It encouraged telecommunication companies to embrace IP peering with the Department of Science and Technology (DOST) while the Department of Justice (DOJ) has released guidelines against deceptive or misleading Internet print, TV and radio advertisements.

The National Telecommunications Commission (NTC), for its part, is also expected to craft a memorandum circular that will set the quality of standards for all telecommunication companies to follow, be it broadband or DSL.

Sen. Bam also looked into the port congestion that hounded the Port of Manila early this year. After several hearings, port operations went back to normal, with utilization rate now between 70 to 80 percent.

Lastly, Sen. Bam worked together with the Department of Trade and Industry (DTI), local governments, the academe, business clubs and other private groups in the establishment of Negosyo Centers that will assist small businesses.

Through the Go Negosyo Act, the Negosyo Centers aim to provide ease of doing business, access to business training & education, development services and financing for the growth of MSMEs.

As of this month, 61 Negosyo Centers have been established and 50 more are expected to be put up by the end of the year.

P-Noy Thanks ‘Kuya Bam’ for PH Competition Law

President Benigno Aquino III thanked Sen. Bam Aquino for his efforts to pass two crucial legislative measures that will further sustain the country’s economic growth and boost the government’s inclusive growth agenda.

In his speech, the Chief Executive lauded Sen. Aquino, whom he playfully referred to as “Kuya Bam”,  for working for the passage of the Philippine Competition Law and the Foreign Ships Co-Loading Act, now known as Republic Act 10667 and 10668, respectively.

The measures were signed by the Chief Executive during a ceremony at Malacanang Palace today (July 21).

“Partikular po nating pinasasalamatan, unahin ko na po, pasensiya na po kayo, ‘yung kuya ko si Bam Aquino, at ang marami pang ibang sponsor at may-akda ng dalawang batas na ito,” President Aquino said in his speech.

The President said the Philippine Competition Act, which took almost 25 years to pass into law, would help sustain the country’s ever-growing economy and ensure a climate that provides a level-playing field for all businesses.

“Sa pamamagitan ng dalawang panukalang batas na pinagtibay natin sa araw na ito, tinatanggal natin ang mga baluktot na kalakarang dulot ng kawalan ng kumpetisyon, na walang nadadalang pakinabang sa ating mamamayan,” said the Chief Executive.

The President also stressed the importance of the Foreign Ships Co-Loading Act, saying that it will lead to lower prices of logistics and lower prices of goods for consumers

“Sa mga amyenda po ninyo, malayang makakapagkalakal ang mga banyagang barko ng kanilang imported at exported na kargamento sa kanilang napiling port of destination. Dahil dito, mapapadali at mapapamura ang export at import ng mga produkto, na magbubunsod ng mas masiglang merkado,” he said.

“Sa pinagtibay nating Philippine Competition Act at Liberalization of Philippine Cabotage, ang pagbabagong tinatamasa natin ngayon ay magpapatuloy hanggang sa mga susunod pang henerasyon,” the Chief Executive stressed.

The Philippine Competition Act levels the playing field for all businesses by penalizing anti-competitive agreements and abuses of dominant players, aside from eliminating cartels.

Under the law, a Philippine Competition Commission (PCC) will be established with the Chief Executive appointing a chairperson, four commissioners and an executive director.

As an independent quasi-judicial body, the PCC will look into anti-competitive behaviors, abuses in dominant positions, and anti-competitive mergers and acquisitions.

The Foreign Ships Co-Loading Act allows foreign ships carrying imported cargoes and cargoes to be exported out of the country to dock in multiple ports.

With the approval of these two measures, Sen. Bam now has four laws to his credit. Last year, the President approved the Go Negosyo Act and the Philippine Lemon Law.

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