The Department of Trade and Industry (DTI) will make provisions to include wafer fabrication in the Tatak Pinoy Act’s implementing rules and regulations (IRR) signed Wednesday by various concerned government agencies.
Trade Secretary Alfredo Pascual underscored the importance of establishing a local wafer fab to gradually step up semiconductor and electronics manufacturing in the country.
Senator Sonny Angara, author of the Tatak Pinoy Act, said the law supports the country’s industrialization ambitions with an offer of P2 billion funding allocation for the program.
The DTI’s share of P350 million will be used to support small manufacturing companies and micro, small and medium enterprises (MSME), Pascual said.
The Tatak Pinoy Industrial Policy (TPIP) Program is a new initiative of the DTI that aligns with the goals of the Tatak Pinoy Act which is one of the 12 priority legislations of President Ferdinand Marcos Jr., which aims to foster development and uplift the lives of the Filipino people.
Consistent with the Philippine Development Plan (PDP) 2023-2028, the Tatak Pinoy Act calls for close collaboration among the government, industry and other stakeholders in enabling Philippine industries to enhance productivity and competitiveness, produce and trade a diverse array of more complex and higher quality products and services.
This will ultimately allow Philippine manufacturers to move up to the global value chain, create high-paying jobs, increasing the country’s economic complexity and achieving a robust and vibrant Philippine economy.
The Multi-Year Tatak Pinoy Strategy (TPS), touted to be the country’s first-ever industrial policy institutionalized through law, will serve as a national roadmap, outlining a comprehensive plan with actionable steps for the country, regions, provinces, cities and municipalities.
The plan aims to systematically expand and diversify the productive capabilities of domestic enterprises; empower them to produce and offer a wider range of increasingly sophisticated products and services; and enhance their competitiveness in the global marketplace.
The Tatak Pinoy Act was signed into law on Feb. 26, 2024.