Some members of Congress are imploring President Benigno Aquino to certify as urgent the “Anti-Trust Bill after the Philippines went up to sixth place in the latest Crony Capitalism index of The Economist.
The Philippines used to be at the nine spot of countries where crony capitalism is active.
According to Valenzuela Rep. Sherwin Gatchalian, House Bill 1133 or the Philippine Fair Competition Act of 2013 should be ratified into a law to level the playing field for entrepreneurs.
Gatchalian insisted that cartel and monopoly should be eliminated especially in important industries like utilities and telecommunications.
This way, it will entice foreign entrepreneurs to invest in our country and this will create more job opportunities for Filipinos. (with reports from Leth Narciso-Abinales)