Press Release
August 28, 2023

Signing of OTOP Law to boost MSMEs towards community development, says Bong Go

Senator Christopher "Bong" Go expressed his gratitude to President Ferdinand Marcos Jr. for signing into law the One Town, One Product (OTOP) Philippines Program, which is one of the senator's priority legislation aimed at boosting the country's micro, small, and medium enterprises (MSMEs).

Go also commended the Marcos administration for recognizing the importance of supporting MSMEs citing that this law can serve as a catalyst for innovation and growth while promoting local traditions and indigenous materials.

"Author at co-sponsor tayo nito, na ang layunin ay ma-institutionalize ang pagkakaloob ng gobyerno ng tulong sa MSMEs sa pamamagitan ng product development, initiatives and training, at iba pa para mapasigla ang lokal na ekonomiya lalo na sa mga probinsya. Magtutulungan ang lokal na pamahalaan, mga ahensya ng gobyerno at ang pribadong sektor para sa pagpapaunlad at pagpapalaganap ng mga produktong Pilipino para sa export o kaya ay domestic market," he explained.

The OTOP Philippines Program, authored and co-sponsored by Go, is a government stimulus program designed to foster the growth of MSMEs in communities across the nation. It emphasizes the utilization of local resources and the preservation of cultural heritage.

"Backbone ng ating ekonomiya ay ang MSMEs. Ito po 'yung mga dapat nating bigyan ng importansya, pagtuunan natin ng pansin, tulungan natin na lumago. Bigyan natin sila ng bagong pag-asa. Palakasin natin ang kanilang kabuhayan," Go said.

Go cited that MSMEs significantly contribute to the country's employment rate as they account for 99.5% of total business enterprises and over 62% of the country's total employment as of 2020.

The OTOP Program aims to enhance MSMEs by assisting in various areas such as quality improvement, product development, design, packaging, standards compliance, marketability, brand development, sustainability, and securing necessary licenses and registrations.

"The pandemic has led to job losses and reduced work hours. That's why continuous government support is crucial for Filipinos who want to rebuild their livelihoods," Go reiterated.

He added, "Hindi lamang ito makakaambag sa unti-unting pagbangon ng ekonomiya kundi malaking tulong din ito para sa mga nawalan ng trabaho. Ang importante po sa akin ay walang Pilipino ang magutom at ang bawat pamilyang Pilipino ay mabigyan ng oportunidad na makabangon."

At the peak of the pandemic, Go also played a key role in implementing the Small Business Wage Subsidy program, providing financial assistance to workers affected by the enhanced community quarantine.

"I thank President Marcos for his unwavering support in these initiatives. Together, we are building a stronger and more resilient economy for the Filipino people," Go concluded.

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