Philippine Competition Commission Chairman Arsenio Balisacan, meanwhile, said that policy reforms are underway. Lack of competition, the bank said, is one of the main reasons why domestic shipping in the Philippines is more expensive than in Malaysia or Indonesia. "Restrictions in transport sectors, particularly cabotage rules and limits to foreign participation, impairs logistics in the Philippines, creating bottlenecks," the bank said. The World Bank also said the cost of mobile phone services in the Philippines is the highest in East Asia, and four times higher than the average price in rich countries.
It also pointed out that limitations on foreign direct investments are preventing the development of electricity infrastructure. "This is largely due to the slow implementation of reforms, such as the open access provisions and retail competition, under the Electric Power Industry Reform Act of 2001," the World Bank said.
Philippine electricity costs are high, and capacity is limited, said the multilateral lender. “The Philippines has adopted key reforms to foster competition but slow implementation continues to hinder the potential benefits of these reforms to consumers, keeping prices high and choices limited,” said World Bank senior economist Graciela Murciego. Letting more players enter these industries can improve services and generate higher-paying jobs, and hasten poverty reduction, the World Bank said.
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World Bank and discuss how to foster competition in PH amid challenge of restrictive regulations /Xpaak28HuZĪmong the sectors that need to see more competition are electricity, telecommunications, and transport. The multilateral lender said the Philippine economy is "more concentrated" than other economies in the region and that fostering fair market competition in key sectors can boost economic growth. MANILA - The Philippine economy is hampered by monopolies, duopolies, and oligopolies in key markets, the World Bank said in a study presented on Monday.
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