By Bernie Cahiles-Magkilat

The Bases Conversion and Development Authority (BCDA) and the Philippine Competition Commission (PCC) sealed a partnership agreement that will boost the attractiveness of investment opportunities in the Philippines, such as those at New Clark City.

The agreement formalizes the understanding of the two agencies to better coordinate their efforts, reinforce their cooperation, and facilitate the review of projects and other transactions — guided by the Philippine Competition Act (RA No. 10667), particularly for “Covered Transactions,” or for transactions with a value greater than P4 million. The agreement also aims to efficiently promote the National Government’s development initiatives and policies to potential private entities which can partner with government to help achieve development objectives.

The signing ceremony was led by PCC Chairman Arsenio M. Balisacan and BCDA President and Chief Executive Officer Vivencio B. Dizon. It was witnessed by BCDA Executive Vice President Aileen R. Zosa and PCC Commissioner Atty. Johannes B. Bernabe. Also present during the signing were other PCC Commissioners Macario C. De Claro Jr. and Amabelle C. Asuncion, and PCC Executive Director Kenneth V. Tanate.

“The agreement paves the way for harmonized transactions between BCDA and PCC, and will facilitate more efficient processes,” said PCC Chairman Balisacan. “It is also our way of contributing to BCDA in attracting businesses.”

In the agreement, key points on coordination and cooperation were stipulated. These included the referral of BCDA of competition concerns to PCC regarding PPP projects; the facilitation of PCC’s review of Covered Transactions through the proper coordination and cooperation of BCDA in terms of timelines and requirements; consultative meetings; the organization of capacity-building activities such as workshops, seminars and conferences; and the continuous review of the agreement through amendments.