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The law imposes fines and penalties on violators of the law. Under Sec. 29 of RA 10667, administrative fines of up to Php 250 million pesos can be imposed. In addition, the party which fails to comply with the commission's order shall pay a penalty of not less than Php 50,000.00 up to Php 2,000,000.00 for each violation.
Domestic and foreign trade and private corporations; Micro, small and medium enterprises (MSMEs) Social enterprises; Promotion of entrepreneurship and the regulation of entrepreneurial practice; Patents, copyrights, trade names and trademarks; Standards, weights, measures and designs; Quality control, control and stabilization of prices of ...
A comprehensive competition law was first proposed in the late 1980s during the administration of President Cory Aquino. [5]The Philippines was the only country in ASEAN without a competition law and the integration of ASEAN into a single market was an impetus to pass the act.
After World War II, President Manuel Roxas issued Executive Order (EO) No. 94 on October 4, 1947, creating the Department of Commerce and Industry (DCI). [3] Cornelio Balmaceda, a much sought-after professor of economics and director of the Bureau of Commerce (BOC), was appointed acting secretary of the newly created Department of Commerce and Industry.
The list includes general SEZs and the more specific free trade zones and free ports, managed either by the Philippine Economic Zone Authority or held privately. As of April 30, 2016, there were 345 operating economic zones throughout the Philippines. [1]
The economics team of then President-elect Rodrigo Duterte presented the following points of Duterte's socioeconomic policy in a business forum in Davao in June 2016. [3] Dutertenomics is anchored on these ten principles. [2] Continue and maintain current macroeconomic policies, including fiscal, monetary, and trade policies.
Revoking the policy of granting career executive service rank to graduates of the National Defense College of the Philippines: July 2, 2024 [63] 64 Updating the salary schedule for civilian government personnel and authorizing the grant of an additional allowance, and for other purposes August 2, 2024 [64] 65
The Laurel–Langley Agreement was a trade agreement signed in December 15, 1954 [1] [2]: 43 between the United States and its former colony the Philippines. It was signed by Senator Jose P. Laurel and James Langley. [2]: 43 The agreement took effect in 1955 after approval from both Philippine Congress and U.S. Congress. [1]