The Senate has approved on third and final reading a measure that seeks to institutionalize the One Town, One Product (OTOP) Philippines as part of the government’s stimulus programs for micro, small and medium-scale enterprises (MSMEs).
Sponsored by Senator Mark Villar, chairman of the Senate trade, commerce and entrepreneurship committee, Senate Bill (SB) 1594, or the OTOP Philippines Act of 2023, was passed with 22 affirmative votes, zero negative votes and no abstention.
Under the bill, an OTOP Management Committee shall be created and designated by the Department of Trade and Industry (DTI) which shall have the primary responsibility of directing the implementation of the provisions of SB 1594. It will also provide a package of assistance for MSMEs with viable products.
Moreover, the DTI is authorized to establish the OTOP Philippines Trustmark that will identify businesses and products with excellent quality, design, value, and marketability.
The House version of the bill remains pending at the committee level.
