Pasay city: Risks from a global economic slowdown have been lessened by the institution of the Tatak Pinoy Program, which ensures a national industrialization program that will benefit local businesses. Department of Economy, Planning and Development (DEPDev) Undersecretary Rosemarie Edillon, during a panel discussion at the launching of the Tatak Pinoy Program in Pasay City, said DEPDev officials were concerned about a 47.7-point drop in the Philippines' S and P Global Manufacturing Purchasing Managers Index (PMI) for November.

According to Philippines News Agency, an index of above 50 shows expansion, but numbers below this indicate otherwise. However, Edillon said the Tatak Pinoy Program, which is a program under the Tatak Pinoy (Proudly Filipino) Act, or Republic Act (RA) 11981, is for the government to prioritize procurement of locally-produced items for its various programs, such as on feeding program, health care, and education.

She explained that the government delivers numerous public goods and services, and most of these can utilize locally produced products. This approach could mitigate the impact of declining exports due to a global economic slowdown. With a population of 114 million and 8,000 islands, the potential for inter-island trading within the country is substantial.

Edillon emphasized the need to develop more products that Filipinos demand and will use, starting with the government's role in public procurement. The Tatak Pinoy Strategy, the country's first national industrial policy aligned with the Tatak Pinoy Act, aims to strengthen key sectors, create jobs, and elevate Filipino products and services to global standards.

The strategy is built on five pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management.