NextGen Day

As of Tuesday, 111 One Town, One Product (OTOP) stores had been opened nationally, according to the Department of Trade and Industry (DTI).

In a letter to the media, the DTI stated that 22 of these stores were opened between January 2022 and February of this year.

According to the statement, “These were developed in collaboration with external partners like Alagang Ayala and CAAP (Civil Aviation Authority of the Philippines), who supplied rent-free locations for several OTOP hubs.

The DTI’s OTOP program is a top priority for stimulating small and medium-sized businesses (MSMEs) across the nation.

This tries to promote goods and services particular to a locality’s competitive advantage, community resources, and cultural distinctiveness. The goods and services that the region is best known for are those that are offered in OTOP hubs.

The OTOP Philippines Act of 2023, Senate Bill No. 1594, which formalizes the provision of package assistance for MSMEs with marketable products for OTOP hubs, was adopted by the Senate on Monday.

The bill to support and encourage inclusive growth in rural communities by bringing them closer to the mainstream market, assisting them with innovation, and promoting Philippine goods in both the domestic and international markets was also adopted by the upper house on its third and final reading.

The DTI has been given PHP97.07 million by the General Appropriations Act (GAA) for the OTOP Next Generation, or OTOP Next Gen. The Eastern Visayas (PHP14.13 million), National Capital Region (PHP13.71 million), Cordillera Administrative Region (PHP6.26 million), Caraga (PHP6.55 million), and Calabarzon regions will receive the highest share of the budget. (PHP5.69 million).

One of the two elements of the DTI program helping the supply side is OTOP, Next Gen.

The DTI stated that OTOP Next Gen offers a package of assistance to MSMEs that includes product development activities, training, referral, and other initiatives to support them in improving their products, among other things, in terms of design, quality, and volume.

The OTOP is the additional element. The program’s supply side is supported by PH (Philippines Hub), which is. For OTOP products, this entails creating offline and online distribution channels and market access platforms.

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