April 18, 2024

The Philippine Exporters Confederation, Inc. (Philexport) expressed strong support for the newly signed Tatak Pinoy Act, noting it is laudable such a platform has been created whereby the government and the private sector can work together to raise Filipino product quality.

Philexport President Sergio R. Ortiz-Luis, Jr. said not just the export community but the whole business sector welcomes the passage of Republic Act 11981.

He recalled in the past, many similar efforts to encourage the purchase of Filipino products had also been launched, but most of them somehow fizzled out.

Ortiz-Luis said particularly commendable is that RA 11981 enshrines private sector representation.

“For the first time, they thought of putting up a platform to really put together the government and the different industries to ensure sustainability of effort,” he said.

“It makes us happy that at least we have a vehicle to be able to address this. There have been a lot of laws passed lately whose value is debatable, but this law is surely of benefit to the country.”

He added the Philippine Salt Industry Development Act, which was enacted on March 11 and aims to revive salt production and exportation in the country, as another good measure that will boost the industry sector.

Ortiz-Luis said in the short term, the Tatak Pinoy Act can address low-hanging fruits such as the generation of jobs for Filipinos and can complement and align with other relevant projects like those being spearheaded by the Department of Trade and Industry.

More projects can be identified for medium- and long-term development under the law.

“We have many industries that need to be developed that are not being developed such as the bamboo industry,” he said.

President Ferdinand Marcos, Jr. signed the law on Feb. 26 which mandates the formulation of a “Tatak Pinoy Strategy” that will provide increased support to local industries from the time of development to market expansion and associate the Filipino brand with high-quality products.

The law aims to elevate the standard and competitiveness of Philippine pro-ducts and services by fostering stronger collaboration between government agencies and the private sector.

The Tatak Pinoy Strategy will serve as the roadmap for the government and private sector to empower targeted industries to come up with sophisticated pro-ducts and services for the global markets, which would in turn raise the country’s position in the global value chain.

Specific plans and programs under the Tatak Pinoy Strategy will be organized according to five pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management.

The Tatak Pinoy Act also mandates the establishment of the Tatak Pinoy Council to be chaired by the trade secretary and co-chaired by the National Economic and Development Authority secretary and the finance secretary.

The Council is tasked to implement the program’s initiatives and ensure that Philippine products and services are highlighted in international exhibitions and strategic retail placements.

The law also instructs the administration to allot funds to local businesses and provide incentives to encourage innovation and competitiveness in creating products that will bolster the country’s trade and image globally.

These benefits and privileges over a 10-year period will give priority to Ta-tak Pinoy businesses including providing them with “green lanes” to help expedite applications for permits and certifications as well as extending financial support through low-interest loans and venture capital.

The government is hoping RA 11981 will improve the country’s ranking in The Atlas of Economic Complexity, which measures a nation’s capacity to make more complex products.

The Philippines ranks 33rd out of 133 countries in terms of level of sophistication of export products being produced. – Press release