MANILA, Philippines — Producers of best quality Filipino goods are entitled to greater incentives and financing perks based on a law signed yesterday by President Marcos, which aims to make Philippine-made products and services globally competitive.
According to Marcos, Republic Act 11981 or the Tatak Pinoy (Proudly Filipino) Act also promotes inclusive economic growth and development in the country, while making the most of the creativity and skills of Filipino workers.
“The Tatak Pinoy Act is about investing in Filipino competence and talent. That genius and gift must be supported, not by exhortation alone but by true, tangible support,” the President said in his speech during the ceremonial signing of the law at Malacañang.
He said Tatak Pinoy is more than branding as it is about giving incentives to local products that deserve to carry the “Made in the Philippines” trademark.
“It is about creating products and services of the highest quality, because Tatak Pinoy is also about excellence and, as a seal of great workmanship, it must only be applied to those that meet this high standard. As such, we shall give preference and priority to our products,” Marcos said.
The law mandates the creation of the Tatak Pinoy Council as a policy and advisory body to the President.
The advisory body will comprise the Department of Trade and Industry, the National Economic and Development Authority and the departments of Finance, Agriculture, Budget and Management, Information and Communications Technology, Labor and Employment and Science and Technology and four representatives from the private sector to be appointed by the President.
Under RA 11981, priority would be given to Philippine products and services in sectors and economic activities included in the Tatak Pinoy Strategy for 10 years.
Green lanes for Tatak Pinoy investments and exports would be established to expedite approvals, permits, licenses and certifications, the law said.
The TP council shall also ensure better access of Philippine products and services to domestic and international markets, including through placements in international exhibitions, tourist hubs, ports of entry and high-traffic retail areas.
The law also mandates government financial institutions to provide Tatak Pinoy enterprises low-interest or flexible loan programs, credit guarantees, lease agreements, venture capital and other modes of financing.
The Bureau of Internal Revenue shall ensure faster processing of value-added tax refunds of Tatak Pinoy enterprises, the law stated.
Also at the signing ceremony were Senate President Juan Miguel Zubiri, Speaker Martin Romualdez and one of Tatak Pinoy Act’s main authors, Sen. Sonny Angara.
Industrialization
The senator said RA 11981 is a giant leap for the Philippines toward its goal of becoming an industrialized country.
“We thank President Ferdinand Marcos Jr. for sharing our vision on Tatak Pinoy and supporting this measure. We also thank the leaders and members of the Senate for their support of this very important piece of legislation and to the House of Representatives for adopting our bill and swiftly approving it as a priority measure,” Angara added.
“Tatak Pinoy’s goal is to stabilize our economy through stronger coordination between the government and the private sector. Through Tatak Pinoy we can learn what businessmen need to boost their operations and how the government can help them achieve this goal,” he said.
He maintained that one of their goals of promoting locally produced brands is to increase the income of Filipinos. “As the income of businesses grows, our economy also develops and because of this, we expect that the lives of our compatriots will also improve,” Angara said.
“This will be a very comprehensive program that will start from education where we will ensure our learners are equipped with the knowledge and skills they will need to cater to the requirements of employers; embracing innovation and technology transfer to allow businesses to come up with more sophisticated and higher value goods and services and making strategic investments to address the gaps and strengthen the foundation of all industries and its workforce,” he pointed out.
Quezon Rep. Keith Micah Tan said the Tatak Pinoy Act would accelerate the development of first-rate Filipino enterprises selling globally competitive Philippine-made products, goods and services. “Through this law, we hope to rally all Filipinos behind the Tatak Pinoy enterprises and encourage community businesses to pursue excellence and economic development and prosperity towards the alleviation of the poverty of our people,” Tan said.
“The Tatak Pinoy Act is a significant step towards eliciting pride for Philippine-made products, goods and services and provides opportunities for the talent, ingenuity and innovative sprit of Filipinos to be known globally,” he explained. – Michelle Zoleta
Source: https://www.philstar.com/headlines/2024/02/27/2336398/tatak-pinoy-more-branding-marcos-says
