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 on Tuesday, December 2, said DEPDev officials were concerned about a 47.7-point drop in the Philippines’ S&P Global Manufacturing Purchasing Managers Index (PMI) for November.
An index of above 50 shows expansion, but numbers below this indicate otherwise.
However, Edillon said the Tatak Pinoy Program, which is a programed 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 said the government “delivers a lot of public goods and services and most of these can make use of locally produced products.”
What has to be done, she said, is to come up with more products that Filipinos really demand and will utilize.
Under the Tatak Pinoy Strategy, the country’s first national industrial policy made in line with the Tatak Pinoy Act, measures will be put in place to strengthen key sectors, create jobs, and level up Filipino products and services to global standards.
It has five pillars, namely human resources, infrastructure, technology and innovation, investments, and sound financial management. (PNA)
