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Manila Bulletin devider Business devider Trade & Industry devider DTI signs OTOP IRR to promote MSMEs development

DTI signs OTOP IRR to promote MSMEs development

Published Nov 10, 2023 08:56 am

Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual signed Friday, Nov. 10, the Implementing Rules and Regulations (IRR) of the One Town One Product (OTOP) Philippines Act, which aims to boost local entrepreneurship and promote inclusive economic advancement.

“This OTOP IRR is a testament to the government’s commitment to strengthening local industries and facilitating their integration into the global value chain. As we partner with different stakeholders, we will employ a whole-of-government approach to empower local businesses while creating high-quality and better-paying jobs for Filipinos,” Pascual said. 

The DTI chief emphasized the OTOP program as “a game-changer” for micro, small, and medium enterprises (MSMEs) as it empowers and enhances their productivity.

The OTOP IRR provides a comprehensive framework for the effective implementation of the OTOP Philippines Act, outlining the guidelines and procedures that local government units (LGUs) and MSMEs need to follow to participate in the program.

In addition, the IRR defines the roles and responsibilities of various stakeholders, including LGUs, national agencies, and private sector partners.

The OTOP IRR was drafted in cooperation with the United States Agency for International Development-Regulatory Reform Support Program for National Development (USAID-RESPOND) through the University of the Philippines Public Administration Research and Extension Services Foundation Inc. (UPPAF).

“The program provides a platform for our talented entrepreneurs to showcase their products, gain access to wider markets, and improve their businesses and livelihoods,” Pascual said during the signing ceremony at the Board of Investments (BOI) building.

Enacted last Aug. 25, the OTOP Philippines Act aims to harness the unique products and services of each town to drive economic development and create employment opportunities.

Pascual also stressed that the DTI remains committed to driving the fulfillment of the program, ensuring that it reaches its full potential and brings tangible benefits to MSMEs and their respective towns.

Further, Pascual added that the gaining momentum of the OTOP Philippines Act is expected to create a ripple effect, generating more employment opportunities, fostering innovation, and ultimately contributing to the overall economic development of the country.

Under Section 14 of the Act, the formulation of the provision promulgates the rules on the OTOP Philippines Trustmark and its Certification Committee; OTOP Management Committee and Interagency Coordination Committee; OTOP Program Management Office and OTOP Local Program Office; National and Local OTOP Philippines Hub; and National and Local OTOP Strategic Plan.

Pascual also emphasized that the OTOP IRR ensures the alignment of the OTOP Program's components and plans to the Magna Carta for MSMEs and the MSME Development Plan. 

This will enable the streamlining of whole-of-government assistance in product development, capacity building, standards and markets compliance, market access, and ease of access to credit for MSMEs nationwide.
 

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