MANILA – The Philippine Senate on Monday passed one of President Ferdinand R. Marcos Jr.’s key priority measures, known as the “Tatak Pinoy” (Proudly Filipino) Bill, with unanimous support, garnering 23 affirmative votes.
According to Philippines News Agency, Senate Bill No. 2426 mandates the creation of a comprehensive and multi-year “Tatak Pinoy” Strategy (TPS), focusing on the expansion and diversification of the productive capabilities of local enterprises. The bill requires collaboration between government agencies and the private sector for successful strategy and intervention implementation. The strategy will be overseen by a council led by the socioeconomic planning secretary, with the secretaries of Trade and Industry and Finance as vice-chairpersons. Senator Sonny Angara, the author of the measure, highlighted during the interpellation period that the TPS will ensure that the government and the private sector are “firing at all fronts” towards establishing the Philippines among the world’s most robust economies. Angara referenced Taiwan as a success story, noting its evolution from a producer of low-cost, low-quality goods to a major manufacturer of high-tech products and a key player in the global supply chain. He emphasized the need for the Philippines to commit to producing higher-value products and to make strategic decisions focusing on potential high winners in the global economy. The Philippines, currently ranked 33rd out of 128 countries in terms of economic complexity, has untapped potential for producing complex and high-value products, a potential that the TPS and the Tatak Pinoy Council (TPC) aim to unlock. The strategy calls for enhanced collaboration between the government and the private sector, with the goal of equipping and enabling Filipino industries and services to produce more complex, higher-quality goods and to integrate more fully into the global supply chain. This initiative is also designed to provide high-paying jobs for Filipinos and to contribute to a more dynamic economy. It is aligned with the Philippine Economic Development Plan 2023 to 2028 and the new Philippine Export Development Plan, which are seen as foundational to achieving substantial economic growth.