MANILA - The Philippine Competition Commission said Tuesday it would halve the 30-day review period for select transactions to help make doing business in the country easier.
The 15-day review period will apply to transactions that are less likely to substantially prevent, lessen or restrict competition in their market, the PCC said in a statement. It will take effect on July 2.
“The expedited merger review demonstrates PCC’s commitment in enabling a conducive regulatory environment for doing business while implementing its legal mandate of guarding against transactions that may substantially lessen competition in the market,” chairman Arsenio Balisacan said.
Deals with no overlaps, global transactions with Philippines as assemblers, global transactions with limited presence in the country, and joint ventures for real estate projects are among the transactions that may qualify for the expedited review, the PCC said.