A BUSINESS leader said once the One Town One Product (Otop) bill will be enacted as a law, it will help create a lot of business opportunities for local small and medium-sized enterprises (SMEs) in Davao City, particularly in innovating local products.
John Carlo Tria, DCCCII (Davao City Chamber of Commerce and Industry) president, said the Otop bill will create a lot of opportunities as the bill promotes funding in creating local materials using local labor.
“I think Otop (bill) can boost innovation using local materials and local labor,” Tria said Kapehan sa PIA at the Davao Light and Power Company on April 3, 2023.
The Senate Bill (SB) 1594, also known as Otop bill, encourages local communities to identify and develop products or services that are unique to their town, with the goal of increasing productivity, creating jobs, and promoting tourism.
It also intends to help SMEs, especially in rural areas to develop their products and services and to market them both locally and internationally.
Tria said by building the value and supply chain in creating locally made products, it can give lots of opportunities for SMEs to create and innovate locally made products.
“The challenge here is how to package further these products and find longer value chains, meaning a longer list of customers,” Tria said.
Tria said Otop bill must also target overseas Filipino workers (OFWs) and have them reach the local products. As of 2021, there are 1.83 million OFWs, according to Philippine Statistics Authority (PSA) latest data.
“If we can create more space in their buying habits, in buying Filipino products, all you need is for these products to reach them on a regular basis, and you will see a bigger market of products,” Tria said.
Senator Mark Villar, chair of the Senate trade, commerce and entrepreneurship committee sponsored SB 1594. It was approved with 22 votes, zero negative votes and no abstain votes.