The Senate is a step closer to approving the proposed ‘Tatak Pinoy’ (Proudly Filipino) bill that aims to further develop and empower Philippine manufacturing industries through a wide-ranging, multi-sectoral approach.
Sen. Sonny Angara sponsors the committee report of the Tatak Pinoy (Proudly Filipino) bill. A priority measure of the Marcos administration, the Tatak Pinoy bill outlines the policies, strategies and foundation for developing business, industries, and the Filipino workforce so that the Philippines can produce more sophisticated and diverse line of goods and services. (Photo courtesy of O/S Sen. Angara)
Sen. Juan Edgardo “Sonny” Angara, primary sponsor of Senate Bill No. 2426 or the proposed “Tatak Pinoy Act”, said he is confident the passage of the bill into law would help propel the country’s economy forward, and create more opportunities and higher incomes for Filipinos.
Angara vouched for the immediate passage of the measure into law as President Ferdinand “Bongbong” Marcos Jr. has already included it in his priority legislation, after four years of being in the legislative mill.
The chairman of the Senate Committee on Finance said it is about time that the government comes up with a national strategy to hasten the growth and transformation of the Philippine economy through strong collaboration between the government and the private sector.
He further said the primary key to making this vision of an economically strong Philippines happen is to empower domestic enterprises, particularly small and medium enterprises, and industry giants to become more globally competitive.
Helping these micro, small and medium enterprises produce more sophisticated products, and provide exceptional, world-class services is primarily one of the core programs of the “Tatak Pinoy” strategy, he said.
“For true economic development to happen, it needs to be pursued collectively and collaboratively by all sectors of society,” Angara said in his sponsorship of the bill last week.
“Supporting domestic industries and hastening the process of transforming the Philippine economy demands that stakeholders from the public and private sectors organize, plan, align, and integrate their respective efforts,” he added.
Angara noted that other countries were able to thrive economically due to their intentional shift towards producing more complex or sophisticated products and aggressively supporting and promoting their goods and services domestically and overseas.
The senator said it is imperative for the government to constanty diversify in order to widen its basket of goods and not be content with what it is already producing.
But producing more workers that are required by businesses, including potential investors must be coupled with the availability of the necessary infrastructure, good governance, clear and consistent regulations, ease of doing business and a research and development ecosystem, among others, he pointed out.
Part of the “Tatak Pinoy” strategy is also marketing proudly Philippine-made products by making the country itself support its own products—both in the public and private sector—so that more markets and consumers can have access to them.
“Kapag tinangkilik at sinuporthan kasi ng buong bansa ang mga industriyang sariling atin, magkakaroon ng mas maraming trabaho, mas mataas ang sahod, mas maraming negosyo at mas maganda ang kita, at mas maraming pagkakataon sa kanayunan para umasenso ang ating mga kababayan (When the whole country enjoys and supports our own industries, there will be more jobs, higher wages, more businesses and better income, and more opportunities in the countryside for our countrymen to advance),” Angara said.
“Para sa amin, ang magsama-sama para suportahan ang mga Tatak Pinoy na industriya ay isa sa pinakamabisang paraan para gumanda at lalong umarangkada ang ating ekonomiya (For us, coming together to support Filipino industries is one of the most effective ways to make our economy better and more advanced,” he added.
Angara also reiterated that the measure is also about “eliciting pride and hope from our people, and empowering ourselves as a nation to present a new, or previously unknown side of ourselves and project both hard and soft power to the rest of the world.”
Once enacted into law, the senator believes the “Tatak Pinoy” strategy will be able to provide solutions to cross-cutting problems like poverty, inclusive growth, the trade and current account deficit, unemployment, underemployment, low salaries, rural to urban migration, among many others.
“The crux of our proposal is to mandate all the relevant government agencies to work in tandem with the private sector, and ensure that their individual efforts jive towards helping Filipino enterprises produce better products and offer world-class services, resulting in better jobs and income opportunities across the country,” the lawmaker stressed.