Saturday, June 15, 2024

IRRs Of Tatak Pinoy, Internet Transactions Laws Signed

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IRRs Of Tatak Pinoy, Internet Transactions Laws Signed

2871

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Department of Trade and Industry (DTI) Secretary Alfredo Pascual on Wednesday led the signing of the Implementing Rules and Regulations (IRRs) of the Tatak Pinoy (Proudly Filipino) Act and the Internet Transactions Act (ITA), laws that are set to transform the Philippine e-commerce landscape and promote Filipino products and services on a global scale.

At the signing of the IRRs at the DTI office in Makati City, Pascual highlighted the importance of these laws in advancing the country’s digital economy and supporting local industries.

 

Future-ready PH

Signed into law on Dec. 5, 2023, the ITA reflects the government’s commitment to nurturing a robust digital economy by establishing regulations to ensure data privacy, product standards, safety compliance, and the observance of environmental sustainability in digital commerce.

“I am confident that this law and the IRR will positively revolutionize e-commerce in the Philippines. By fostering trust in online transactions, we are creating more opportunities for high-quality and better-paying jobs, aligning with President (Ferdinand R.) Marcos Jr.’s vision of a digital and future-ready Bagong Pilipinas,” Pascual said.

One of the key features of the ITA is the establishment of the E-Commerce Bureau, designed to guide the orderly development of e-commerce in the Philippines.

Pascual assured the public that regulation would not impede the growth of e-commerce, which he said remains driven by the private sector.

“All we need to do in government is to ensure that this development is orderly with our regulatory function,” he said.

 

Tatak Pinoy

Enacted on Feb. 26, 2024, the IRR for the Tatak Pinoy Act was also signed.

The Tatak Pinoy Law aims to expand Philippine-made products and services, promoting quality and competitiveness in the global market.

Pascual said the Tatak Pinoy is a significant step in growing, diversifying, and sophisticating Filipino products and services, as this law addresses current challenges and aims to enhance the productivity and competitiveness of industries in the global market.

He cited data from the Atlas of Economic Complexity to emphasize the potential for rapid growth by expanding the range of high-quality products and services.

“Para sa Pilipinas, ang ating mga pangunahing export ay kinabibilangan ng mga high-value na produkto tulad ng electronics at mga kumplikadong makinarya at iba pa (For the Philippines, our main exports include high-value products such as electronics and complex machinery),” Pascual said.

“Kahit na nakamit na natin ang patuloy na paglago ng ekonomiya sa pamamagitan ng pagpapalawak sa mga bagong produkto, ang kasalukuyang bilis ng paglawak na ito ay hindi sapat upang magkaroon ng malaking epekto sa paglago ng kita ng bawat tao (Despite achieving continuous economic growth through the expansion into new products, the current pace of expansion is insufficient to significantly impact income growth per capita),” Pascual added.

He also cited the government’s Tatak Pinoy Strategies to foster economic growth through Filipino craftsmanship and innovation by having programs and projects that would focus on human resources, infrastructure, technology and innovation, investments, and sound financial management.

Meanwhile, Pascual said his department is cooperating with partners and stakeholders to realize the goals set by the ITA and the Tatak Pinoy Acts, ensuring that the Philippines thrives in the digital era while proudly showcasing Filipino products and services to the world. (PNA)