Department of Trade and Industry (DTI) Secretary Fred Pascual has signed the Implementing Rules and Regulations (IRR) for the One Town One Product (OTOP) Philippines Act.
MAKATI CITY–In a significant step to boost local entrepreneurship and to further promote inclusive economic advancement, Department of Trade and Industry Secretary Fred Pascual signed the Implementing Rules and Regulations of the One Town One Product Philippines Act on November 10, 2023 during the signing ceremony held at the Board of Investments .“The OTOP Philippines is a game-changer for our MSMEs.
It also defines the roles and responsibilities of various stakeholders, including LGUs, national agencies, and private sector partners.Further, Secretary Pascual added that as the OTOP Philippines Act gains momentum, it is expected to create a ripple effect, generating more employment opportunities, fostering innovation, and ultimately contributing to the overall economic development of the country.
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