In a move aimed at strengthening the Filipino economy and providing support to the elderly, President Ferdinand Marcos Jr. of the Philippines has recently signed two new laws. These laws, known as Republic Act (RA) 11981 or the Tatak Pinoy Act and RA 11982 or the Expanded Centenarian Act, have significant implications for local businesses and the elderly population.
The Tatak Pinoy Act, also known as RA 11981, is designed to help local businesses produce goods that meet global standards. By promoting Filipino-made products, the government aims to enhance the competitiveness of local industries in the international market. This act recognizes the potential of Filipino businesses and seeks to provide them with the necessary support to thrive on a global scale. With this law in place, Filipino entrepreneurs can expect increased opportunities to showcase their products and expand their reach beyond national borders.
On the other hand, the Expanded Centenarian Act, or RA 11982, focuses on providing benefits to the elderly. Under this law, Filipinos, whether residing in the Philippines or abroad, will receive a cash gift of P10,000 upon reaching the age of 80. This cash gift will be given every five years thereafter until the age of 95. By implementing this act, the government aims to acknowledge and honor the contributions of the elderly population, as well as provide them with financial support during their golden years.
President Marcos Jr. expressed his satisfaction with the enactment of these laws, emphasizing their significance in building a strong nation. He commended the House and the Senate for their collaborative efforts in bringing these laws to fruition. The President highlighted the importance of bicameralism, stating that it allows for the blending of ideas and compromises from both bodies, ultimately leading to well-crafted legislation.
These new laws reflect the government’s commitment to fostering economic growth and supporting the well-being of its citizens. By promoting Filipino-made products, the Tatak Pinoy Act aims to boost local industries, create jobs, and enhance the country’s reputation as a producer of high-quality goods. Additionally, the Expanded Centenarian Act demonstrates the government’s recognition of the elderly population’s valuable contributions and their need for financial assistance in their later years.
The international community can observe the Philippines’ commitment to economic development and social welfare through these new laws. By enacting legislation that promotes local industries, the country is positioning itself as a global player in the production of quality goods. Furthermore, the provision of financial support to the elderly showcases the government’s dedication to caring for its aging population.
In conclusion, President Marcos Jr.’s recent enactment of the Tatak Pinoy Act and the Expanded Centenarian Act demonstrates the Philippines’ commitment to promoting Filipino-made products and supporting the elderly. These laws pave the way for increased opportunities for local businesses to thrive in the global market, while also providing financial assistance to the elderly population. With these measures in place, the Philippines is taking significant steps towards building a strong and prosperous nation.
Source: The Manila Times
