MANILA, Philippines — Last February 26, President Ferdinand “Bongbong” Marcos Jr. signed into law Republic Act No. 11981, or the Tatak Pinoy Law, which aims to empower Philippine industries by providing financing and incentives to local producers and manufacturers of quality goods.
Local industry manufacturing groups from the building materials industry including cement, iron, steel, ceramic tiles, adhesives, plastic products, paints, fiber cement boards, gypsum boards, glass and other related products, express gratitude to President Marcos for signing this landmark law and advocating for locally produced goods and services. The swift passing of the law authored by Senator Sonny Angara was also the result of close collaboration between the Senate, House of Representatives, and the President, who had listed it on the priority measure of his administration.
With the Tatak Pinoy Law in place, local enterprises can get the support they need from both national and local governments to improve their operations and attract investments, all to produce high-quality products that carry the ‘Made in the Philippines’ trademark and elevate their inherent worth in foreign markets. A key provision of the Act is Philippine-made products will be given priority and preference in all government procurement activities for a period of 10 years. Patronizing locally made goods and services will naturally spur and promote investments, job creation, innovation, tax generation, among others in the country. The law will also be good for generating and sustaining high-quality jobs for Filipinos, instead of looking for employment overseas.
The Tatak Pinoy Law encourages local industries to innovate to promote the excellence of Philippine-made products, which would improve our standing in the global value chain, according to the Department of Trade and Industry. Local companies and manufacturers commit to providing quality materials for the administration’s infrastructure programs.
Following the passage of the law, a Tatak Pinoy Council will also be assembled to develop a multi-year strategy for exports and provide solutions to the challenges local industries face in the global market.
Local industry leaders thank and salute the Philippine government for championing proudly Pinoy goods and taking the lead in promoting the high-quality Filipino products nationwide for the Filipino people!
Source: https://businessmirror.com.ph/2024/03/05/local-manufacturers-laud-tatak-pinoy-act/
