NEDA clears PCC to undertake P1.3-billion capacity building project

MANILA, Philippines — The Investment Coordination Committee-Cabinet Committee (ICC-CabCom) of the National Economic and Development Authority (NEDA) has approved a capacity building project by the Philippine Competition Commission (PCC) and re-confirmed its earlier approval of the Metro Manila Bus Rapid Transit Line 1.

ICC-CabCom approved last Thursday PCC’s P1.322-billion project of which P1.217 billion will be funded through a loan from the Asian Development Bank.

The capacity building project is aimed at institutionalizing the capacity of the government to enforce the Philippine Competition Law and promote free and fair competition in the country’s economic activities through capacity trainings, scholarships and establishment of academic centers in the country.

The project will be implemented from the third quarter of 2019 to January 2025.

Socioeconomic Planning Secretary Ernesto Pernia, who co-chairs the ICC-CabCom, said the project is expected to contribute to the enhancement of market competition in the economy.

“With an improved manpower of PCC and other government agencies, through exposure to different fields, including competition economics, competition policy, and data science, we can expect market competition in the economy to be enhanced,” he said.

This project is also seen to foster competition in key economic sectors that are crucial in achieving inclusive development and, subsequently, improve the country’s ranking in the World Economic Forum’s Global Competitiveness Index (GCI). In 2017, Philippines ranked 56th out 137 countries in the GCI.

The ICC-CabCom also re-confirmed its earlier approval of the Metro Manila Bus Rapid Transit Line 1, along with its updated project description and cost amounting to P5.46 billion.