THE Philippine Competition Commission (PCC) and SM Prime Holdings Inc. (SMPHI) yesterday signed a memorandum of cooperation (MOC) where the latter agreed to lead a campaign that will promote fair market competition among its stakeholders nationwide.
The MOC signed by PCC chairman Michael Aguinaldo and SM Supermalls assistant vice president for operations Christian Mathay provides that SMPHI will launch a nationwide information campaign across its SM Supermalls to educate the public about the PCC’s mandate and the benefits of fair competition.
The campaign will be featured on the following SM digital platforms: cinema ads, LED poster boxes and cinema directories, digital mall directories, LFD screens and in-mall LED screens.
Aguinaldo said the MOC was a proposal from the SM Malls after it was flagged on social media food kiosks or food carts only sell SM Bonus branded bottled water.
Aguinaldo said SM initiated the move “to help them understand what practices might be violative of competition law.”
“The best way is to conduct seminars, but that might not be enough,” he said, adding that SM also agreed to have a compliance officer who will be the point person on anything related to competition.
He also expressed hope other big companies will follow SM’s suit.
“Considering the nascency of the PCC and the Philippine Competition Act and the wide reach of SM Supermalls, we find that the nationwide information campaign will significantly help us in advocating for fair business practices, thus ensuring a level playing field that benefits businesses and consumers.”
SM, which has 86 malls across the Philippines, said in a separate statement it accepts and supports all kinds of goods and businesses –from clothing to hardware, from gadgets to bottled water– regardless of brand.
“We are proud to join forces with PCC in promoting fair trade practices,” said SM Supermalls president Steven Tan. “By working together, we can empower consumers in making informed choices and contributing to a robust and competitive market.
“SM Supermalls recognizes its enduring partnership with the PCC. SM Supermalls believes that fair market competition will lead to a vibrant and inclusive economy, and advance consumer welfare. It likewise shares the PCC’s vision that fair market competition serves the interest of consumers by allowing them to exercise their right of choice over goods and services offered in the market,” said Mathay.
