Department of Trade and Industry (DTI) Secretary Alfredo Pascual said the “Tatak Pinoy” initiative is a cornerstone of the government’s industrialization strategy.

During a forum at Philippine International Convention Center in Pasay City on Monday, Pascual emphasized the role of the Tatak Pinoy law in boosting local manufacturing and export performance.

“The Tatak Pinoy initiative is also crucial to President Ferdinand R. Marcos Jr.’s industrial policy, which seeks to propel Philippine enterprises toward producing diverse, sophisticated, high-quality products and services,” Pascual said.

“This strategic direction empowers us to confidently navigate industrialization, thereby increasing economic growth and fostering the creation of higher-paying jobs for Filipinos known for their exceptional craftsmanship,” he added.

The DTI chief said that between 2006 and 2021, the Philippines ventured into 30 new export products contributing USD41 to the per capita gross domestic product (GDP).

On the other hand, Vietnam added 41 new export products that boosted its per capita GDP by nearly USD1,500.

He also noted the country’s weak export performance compared to neighboring countries.

Data from ASEAN Statistics Web Portal showed merchandise exports of the country in 2022 stood at USD79 billion, lower than Thailand’s USD287 billion, Indonesia’s USD292 billion, Malaysia’s USD357 billion, and Vietnam’s USD371 billion.

For his part, DTI Undersecretary for Industry Development and Investment Promotions Group Ceferino Rodolfo pointed out that the “best trade strategy is a robust industrialization policy.”

Rodolfo added that the most effective industrialization policy is one that deepens and expands the local value chain.

With the Tatak Pinoy law (Republic Act 11981), the policy incentivizes domestic production and homegrown innovation as the government seeks to reduce reliance on imported goods.

Rodolfo likewise mentioned targeted support for exporters under the Tatak Pinoy strategy. These include green lane for exporters, tax perks, certification assistance, market intelligence, marketing support and capacity-building initiatives.

Under Tatak Pinoy, locally made products now have an advantage in government procurement.

The Tatak Pinoy (Proudly Filipino) Act mandates the formulation, funding implementation, monitoring, and evaluation of a comprehensive multi-year strategy under a Tatak Pinoy Council. (PNA)