‘Tatak Pinoy’ Act drives industrialization agenda

We are confident that this legislation will bolster our ongoing programs, propelling industries towards greater global recognition and success

Following the signing of “Tatak Pinoy Act” which seeks to improve government support to local industries by associating the Filipino brand with high-quality products, Trade Secretary Alfredo Pascual said the new law coincides with the DTI’s commitment to boost its science, technology, and innovationdriven industrialization agenda.

“We are confident that this legislation will bolster our ongoing programs, propelling industries towards greater global recognition and success. It underscores our commitment to implement measures that enhance the competitiveness of our local industries, ensuring that the world gets to experience what the Philippines has to offer,” Pascual said in a statement on Monday.

The newly passed legislation will empower Philippine industries to manufacture a broader range of higher quality and sophisticated products, elevate our position in the global value chain, and enhance productivity and competitiveness in the global market, in line with President Ferdinand Marcos Jr.’s priorities in the Philippine Development Plan 2023-2028.

“The ‘Tatak Pinoy’ Law lies at the core of our nation’s industrialization strategy, revitalizing and driving our economic agenda with precision. With its focus on promoting industrial excellence, embracing innovation, and navigating contemporary challenges, ‘Tatak Pinoy’ is transformative legislation that empowers Philippine industries to thrive in an intensely competitive global landscape,” Pascual stressed.

Council formed

The new law will form a ‘Tatak Pinoy’ Council that will spearhead the development and implementation of a multiyear strategy focusing on five key pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management.

According to the recent report of the Atlas of Economic Complexity, which measures the level of sophistication of export products being produced by countries globally, it ranks the Philippines as the 33rd among 133 countries, with an overall economic complexity index of 0.76, driven by the country’s exports of high to moderate complex products such as electronics and integrated circuits, electrical machinery and equipment, as well as Information and Communications Technology services.

On the other hand, the country ranks 4th in Southeast Asia, trailing behind Singapore (5th), Thailand (23rd), and Malaysia (28th), and above Vietnam (61st) and Indonesia (64th).