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, expressed concerns about a 47.7-point drop in the Philippines’ S and P Global Manufacturing Purchasing Managers Index (PMI) for November. An index above 50 indicates expansion, while numbers below this threshold suggest contraction.
According to Philippines News Agency, Edillon highlighted that the Tatak Pinoy Program, under the Tatak Pinoy (Proudly Filipino) Act or Republic Act (RA) 11981, aims for the government to prioritize procurement of locally-produced items for various programs, including feeding programs, healthcare, and education. Edillon emphasized that the government delivers many public goods and services, most of which can utilize locally produced products.
Edillon further explained that despite a global economic slowdown impacting exports, the Philippines, with its population of 114 million and 8,000 islands, offers significant potential for inter-island trade. She noted the importance of developing products that Filipinos genuinely need and will use, emphasizing that starting with government initiatives can set a precedent for public demand.
The Tatak Pinoy Strategy focuses on strengthening key sectors, creating jobs, and elevating Filipino products and services to global standards. It is supported by five pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management.
