With the One Town, One Product (OTOP) Philippines Act of 2022 passing in the Senate with unanimous support, the Department of Trade and Industry (DTI) anticipates a bright future for micro, small, and medium enterprises (MSMEs) in the country.
The proposed measure aims to institutionalize the OTOP program and provide support for MSMEs, considered to be the backbone of the Philippine economy, while fostering local economic development in rural communities.
Acknowledging the significant contributions of MSMEs towards economic growth and development, the act aims to provide assistance to these enterprises in developing innovative and complex products.
It also encourages convergence among local government units, national government agencies, and the private sector to develop and promote locally-made products that can compete in both local and international markets.
Through OTOP Hubs, budding MSMEs can showcase their unique products, reach larger markets, and increase their earning potential.
The DTI will establish the OTOP Philippines Trustmark, an assurance of quality, design, value, and marketability for products under the program.
The OTOP program covers a range of products, from processed foods to artisanal crafts, that are known to an area or locality and represent the community’s cultural identity.