The Market Monitor Minding the Nation's Business
The National Committee on Intellectual Property Rights (NCIPR) has significantly stepped up its efforts to combat counterfeit goods in the Philippine market, with seizures reaching a record P40.99 billion in 2024.
The Intellectual Property Office of the Philippines (IPOPHL) reported Thursday that the total value of confiscated fake products last year surpassed the previous record of P26.99 billion in 2023, marking a 52 percent increase.
A large portion of the confiscated goods came from the Bureau of Customs (BOC), which reported a total of P34.7 billion in counterfeit goods.
Key operations include a July bust in Binondo, where BOC seized P11 billion worth of luxury counterfeit items, and a November raid in a Divisoria mall, which resulted in the confiscation of P7 billion worth of fake luxury goods.
The National Bureau of Investigation (NBI) seized P3.42 billion worth of counterfeit products, while the Philippine National Police (PNP) confiscated P2.83 billion.
The Food and Drug Administration (FDA) also reported the seizure of P30.20 million worth of counterfeit drugs and health-related products.
“Counterfeit products undermine legitimate businesses, harm the economy, and expose consumers to unsafe products that bypass regulatory checks,” said IPOPHL Director General Brigitte da Costa-Villaluz, commending the NCIPR’s proactive approach and strategic operations.
“The NCIPR will continue to protect our borders, prevent warehouses from being used as storage for illegal goods, and stop markets from becoming hubs for counterfeit operations,” added IPOPHL Deputy Director General for Policy, Legal Affairs, and External Relations Nathaniel Arevalo.