Tatak Pinoy Act Explained

Short Title:Tatak Pinoy Act
Long Title:Tatak Pinoy (Proudly Filipino) Act
Citation:Tatak Pinoy Act
Territorial Extent:Philippines
Legislature:Congress of the Philippines
Date Enacted:February 26, 2024
Enacted By:Senate
Bill:Senate Bill No. 2426
Bill Date:May 22, 2023
Introduced By:Sonny Angara
1St Reading:May 22, 2023
2Nd Reading:September 26, 2023
3Rd Reading:November 6, 2023
Committee Report:Committee Report No. 107
Status:in force

The Tatak Pinoy (Proudly Filipino) Act, designated as Republic Act No. 11981, is a Philippine law aimed at enhancing collaboration between the government and private sector. Authored by Senator Sonny Angara, the act was developed over nearly five years beginning in the 18th Congress[1] through extensive consultations, studies, and research.[2] It was signed into law by President Bongbong Marcos on February 26, 2024.[3]

Provisions

Under the Tatak Pinoy Act, industries in the Philippines are encouraged to produce high-value and sophisticated goods and services, enhancing their competitiveness both globally and domestically. This initiative aims to drive innovation and technology transfer, leading to faster economic growth and improved incomes for Filipinos, ultimately creating more opportunities within the country.

The Tatak Pinoy Act complements the goals set in the Philippine Development Plan by targeting specific industries and sectors with growth potential. A Tatak Pinoy Strategy will be developed, serving as a roadmap for national and local government agencies and the private sector to achieve the act's objectives.[4]

Tatak Pinoy Strategy

The Tatak Pinoy Law is central to the Philippines' industrialization strategy, revitalizing and advancing the economic agenda. This transformative legislation aims to promote industrial excellence, embrace innovation, and address contemporary challenges, enabling Philippine industries to compete effectively in the global market.

The law establishes a Tatak Pinoy Council responsible for developing and implementing a multi-year strategy focused on five key pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management. This strategic approach supports industries in expanding and upgrading their operations, enhancing their competitiveness both globally and domestically.[5]

Under the Tatak Pinoy Law, industries, both large and small, are encouraged to innovate and produce higher-value products that appeal to larger markets, ultimately leading to greater incomes and economic growth.[6]

Notes and References

  1. Web site: Senate Bill No. 319 . . August 13, 2024 . https://web.archive.org/web/20240813141239/https://legacy.senate.gov.ph/lisdata/3807734520!.pdf . August 13, 2024.
  2. https://legacy.senate.gov.ph/photo_release/2024/0226_01.asp Tatak Pinoy Act signed into law
  3. https://mb.com.ph/2024/3/30/tatak-pinoy-what-it-is-and-what-it-s-not Tatak Pinoy: What it is and what it's not
  4. https://www.pna.gov.ph/articles/1219528 Tatak Pinoy Act signed into law
  5. https://pia.gov.ph/press-releases/2024/02/27/dti-bolsters-industrialization-drive-lauds-signing-of-tatak-pinoy-act DTI bolsters industrialization drive, lauds signing of 'Tatak Pinoy' Act
  6. https://business.inquirer.net/447408/angara-tatak-pinoy-law-a-giant-leap-to-becoming-an-industrialized-ph Tatak Pinoy Act signed into law Angara: Tatak Pinoy law 'a giant leap' to becoming an industrialized PH