DTI: Tatak Pinoy Act to Boost PH Industrialization

The Department of Trade and Industry (DTI) to boost its efforts for industrialization with the recent approval of the “Tatak Pinoy” Act on February 26, 2024.

The move is in sync with the Philippine Development Plan 2023-2028, focusing on empowering local industries to make a wider range of top-notch products and compete better globally.

The heart of this new law, Tatak Pinoy, lies in reviving and steering our economic agenda with precision. It’s designed to help Philippine industries flourish in a tough global market by promoting excellence, embracing innovation, and dealing with today’s challenges.

According to DTI Secretary Fred Pascual, this law is a game-changer, and it’s going to boost ongoing programs, giving our industries a chance to shine on the global stage.

The Atlas of Economic Complexity currently ranks the Philippines 33rd globally, and Tatak Pinoy aims to push us even higher by supporting the production of more sophisticated and high-quality goods.

A key part of the law is the creation of a Tatak Pinoy Council, tasked with planning and executing strategies over several years.

These strategies will focus on human resources, infrastructure, technology and innovation, investments, and good financial management.

Tatak Pinoy isn’t just about policies on paper. It’s set to transform Philippine manufacturing, especially with the Fourth Industrial Revolution on the horizon.

Plans include setting up an Industry 4.0 Pilot Factory, establishing a Center for Artificial Intelligence Research (CAIR), and supporting Regional Inclusive Innovation Centers (RIICs) to drive innovation, especially among smaller businesses.

One notable aspect of the law is the call for the Philippine government to prioritize Filipino products and services in its procurement, strengthening collaboration between the public and private sectors. This is seen as a big boost, particularly for small and medium-sized enterprises (SMEs) and startups. (ASC)