Foreign Ships Co-Loading Bill

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.

P-Noy to Sign Landmark PH Competition Act and Amendments to Cabotage Policy into Laws

Two important, historic, game-changing bills to continue pushing the country’s progress and inclusive economic growth will be signed into laws by the President tomorrow.

In a ceremonial signing in the Malacanang Palace tomorrow, July 21, Tuesday, at 10 am, President Aquino will approve the landmark Philippine Competition Act, giving the country its own law that will level playing field for all businesses by penalizing anti-competitive agreements and abuses of dominant players.

The Chief Executive is also expected to sign into law the Foreign Ships Co-Loading Act, which will now allow foreign ships carrying imported cargoes and cargoes to be exported out of the country to dock in multiple ports.

The Philippine Competition Act is considered the longest-running measure in Congress, taking 25 years before hurdling the legislative mill.

“The Philippine Competition Act will usher in a new era of doing business in the country,” said Sen. Bam, co-author and principal sponsor of the measure.

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

“Businesses, whether big or small, will now be on equal footing as the law penalizes anti-competitive agreements and abuses of dominant players,” stressed Sen. Bam, adding that cartels will also be eliminated under the law.

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

“This will lead to an efficient market economy and a level playing field for all businesses,” added Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

The PCC can impose administrative penalties of a maximum fine of P100 million on the first offense and P250 million for the second offense for anti-competitive agreements and abuses of dominant position.

Moreover, courts can impose criminal penalties of imprisonment from two to seven years and a maximum penalty of P250 million for anti-competitive agreements done between and among competitors.  The imprisonment will be imposed to responsible officers and directors of the entity.

Aside from the Philippine Competition Act, the Chief Executive will also sign into law the Foreign Ships Co-Loading Act, another measure sponsored by Sen. Bam.

The Foreign Ships Co-Loading Act will reduce logistics costs for producers, create a more efficient import and export system, and lead to lower prices for consumers.  The law will also help in decongesting the major ports in the country.

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

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.

Financial literacy and entrepreneurship courses will now be included in all levels of education to build an entrepreneurship culture among Filipinos.  A youth entrepreneurship fund shall also be made available to cater to youth entrepreneurs in the country.

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.

Bam on Foreign Ships Co-Loading Bill (Transcript of Interview)

Senator Bam Aquino (third from left), chairman of the Senate Committee on Trade, Commerce and Entrepreneurship, poses with (from left) Reps. Anthony del Rosario, Mark Villar, Miro Quimbo, Teddy Baguilat Jr., Raneo Abu and Cesar Sarmiento after the Foreign Co-Loading of Cargoes Act hurdled the bicameral conference committee.

“We were able to finish the bicameral conference committee regarding the bill allowing foreign vessels to dock in multiple ports and co-load.

We’re quite happy with this bill. We’re hoping that the objective of this bill, which is to lower the cost of logistics in the Philippines, can be achieved.

This is quite a landmark bill in terms of opening up our shipping industry to foreign players, which hopefully can bring down prices of goods as well, which will be to the benefit of our consumers.

There were some cleaning up of language, harmonization of definition of terms but more or less, it was the same spirit from our committee report.

 Initially, the House version was only for container vans. The Senate version was for all foreign cargoes. We had a larger scope from theirs and we were able to harmonize by accepting the Senate version which is having a larger scope for foreign cargoes.

This is a landmark bill so we’re hoping it would be signed into law as soon as possible.”

Scroll to top