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New OTOP Law to promote MSMEs towards economic recovery, says Bong Go

PASAY CITY -- Senator Christopher "Bong" Go hailed the recent signing of Republic Act No. 11960, or the One Town, One Product (OTOP) Philippines Act, into law by President Ferdinand Marcos, Jr. on August 24, as a crucial step towards economic recovery.

"The OTOP law decentralizes opportunities, giving each town and province the chance to shine with their unique products," Go said as he emphasized the law's potential to redistribute economic power from the capital to the provinces and other regions.

Go, who authored and co-sponsored the OTOP law, considers it more than a mere stimulus package for Micro, Small and Medium Enterprises (MSMEs). He views it as a socio-economic reform that can bridge the urban-rural divide.

"Hindi lamang ito tungkol sa pag-angat ng MSMEs. Ito'y pagkakataon para sa bawat Pilipino, kahit saan man sila naroroon, na magtagumpay sa negosyo," he elaborated.

The senator also highlighted the role of the OTOP Program in fostering community-led innovation.

"When communities take the lead in product development, we see more sustainable and culturally relevant outcomes. This is what OTOP aims to achieve," Go said.

While the law is designed to assist in various areas such as quality improvement and marketability of local products, Go pointed out its potential as a tool for social cohesion.

"Kapag ang lokal na ekonomiya ay umunlad, hindi lang isang negosyo ang lumalago kundi isang buong komunidad," he pointed out.

Go also underscored the importance of public-private partnerships in the success of the OTOP Program.

"Government can't do it alone. We need the private sector to invest in these community products, and in return, they get to be part of something genuinely transformative," he urged.

In the context of economic recovery, Go sees the OTOP Law as a lifeline for those who have lost their jobs or faced reduced work hours.

"Higit pa sa pagbangon mula sa pandemya, makatutulong ang bagong batas na ito sa paglikha ng mas magandang kinabukasan para sa lahat ng mga Pilipino dahil sa mga oportunidad na maaari nitong i-offer sa kanila," he emphasized.

Go thanked the President for his support and expressed his optimism about the law's long-term impact.

"With this law, we are reinventing our economic landscape towards a more inclusive and equitable Philippines," he concluded.

Earlier, Go also co-sponsored Senate Bill No. (SBN) 2021, which aims to institutionalize the Shared Service Facilities (SSF) project under the Department of Trade and Industry (DTI).

The proposed measure seeks to amend Republic Act No. 6977 or the Magna Carta for Small Enterprises as amended by RA 9501, otherwise known as the Magna Carta for Micro, Small, and Medium Enterprises.

If enacted, the SSF program would offer more cost-effective solutions to MSMEs by providing access to shared facilities and services that will help them improve the quality and productivity of their products, including equipment, tools, and machinery that they can use to upgrade their production processes that are typically expensive for individual MSMEs. (OSBG)

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Kate Shiene Austria

Information Officer III

Information Officer III under the Creative and Production Services Division of the Philippine Information Agency. 

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