MANILA - Joint ventures between the government and private entities are now exempted from the mandatory merger notification to make doing business easier, the country's anti-trust body said Friday.
Public-private ventures under the National Economic and Development Authority (NEDA) are exempted from notifying the Philippine Competition Commission of mergers effective July 11, the agency said in a statement.
“The PCC has been continuously streamlining its processes in support of the government’s push to ease doing business. Significantly, PCC’s issuance of these rules is aligned with the government’s relief, recovery and resiliency efforts, which direct the speedy roll-out of critical infrastructure projects in response to the current crisis,” said PCC Chairman Arsenio Balisacan.
Under the circular, the PCC will conduct a competitive assessment of joint ventures, which will expedite the rollout of key development projects without the merger review, it said.
A certificate of project exemption will be issued by the agency, the PCC said.
The threshold size of either firm or entity to qualify for mandatory merger notification is P6 billion while the threshold for the size of transaction is P2.4 billion from P2.2 billion, the PCC said in a statement.