By Komfie Manalo
Department of Trade and Industry (DTI) Secretary Alfredo Pascual said The "Tatak Pinoy" initiative is the cornerstone of the Marcos administration's industrialization strategy, Trade secretary Alfredo Pascual said at a forum held at the Philippine International Convention Center (PICC) in Pasay City.
The head of the Department of Trade and Industry emphasized the role of the Tatak Pinoy law in boosting local manufacturing and export performance.
"The Tatak Pinoy initiative is also crucial to President Ferdinand R. Marcos Jr.'s industrial policy, which seeks to propel Philippine enterprises toward producing diverse, sophisticated, high-quality products and services," Pascual said.
"This strategic direction empowers us to confidently navigate industrialization, thereby increasing economic growth and fostering the creation of higher-paying jobs for Filipinos known for their exceptional craftsmanship," he added.
The DTI chief said that between 2006 and 2021, the Philippines ventured into 30 new export products, contributing $41 per capita gross domestic product (GDP).
On the other hand, Vietnam added 41 new export products, boosting its per capita GDP by nearly $1,500.
He also noted the country's weak export performance compared to neighboring countries.
Data from the ASEAN Statistics Web Portal showed that the country's merchandise exports in 2022 stood at USD79 billion, lower than Thailand's $287 billion, Indonesia's $292 billion, Malaysia's $357 billion, and Vietnam's $371 billion.
For his part, DTI Undersecretary for Industry Development and Investment Promotions Group Ceferino Rodolfo pointed out that the "best trade strategy is a robust industrialization policy."
Rodolfo added that the most effective industrialization policy deepens and expands the local value chain.
With the Tatak Pinoy law (Republic Act 11981), the policy incentivizes domestic production and homegrown innovation as the government seeks to reduce reliance on imported goods.
Rodolfo likewise mentioned targeted support for exporters under the Tatak Pinoy strategy. These include green lanes for exporters, tax perks, certification assistance, market intelligence, marketing support, and capacity-building initiatives.
Under Tatak Pinoy, locally made products now have an advantage in government procurement.
The Tatak Pinoy (Proudly Filipino) Act mandates the formulation, funding implementation, monitoring, and evaluation of a comprehensive multi-year strategy under the Tatak Pinoy Council.
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