The One Town, One Product (OTOP) Philippines Act of 2022, which recently got Senate’s approval will help promote the country’s cultural identity in the international market, Trade Secretary Alfredo E. Pascual said on Wednesday. Know more:
The One Town, One Product Philippines Act of 2022, which recently got Senate’s approval will help promote the country’s cultural identity in the international market, Trade Secretary Alfredo E. Pascual said on Wednesday.
According to DTI, this measure “institutionalizes” OTOP as a program that aims to drive inclusive economic growth by supporting the small merchants in the country, which it deemed as “the backbone of the Philippine economy.” Meanwhile, the measure also aims to promote the combined initiatives from local government units , national government agencies, and the private sector in developing and promoting Filipino-made products that can compete in the local and international market, DTI noted.
From 2017 to 2023, OTOP Philippines has already assisted 79,985 MSMEs, generated P10.9 million in sales, developed 39,815 products, established 111 OTOP hubs , and conducted 1,390 trade fairs, DTI said.
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