- The Philippine Fiber Industry Development Authority (PhilFIDA) was created on May 29, 2013, through the consolidation of the Fiber Industry Development Authority (FIDA) and the Cotton Development Administration (CODA) as part of the Rationalization Plan of the Department of Agriculture.
- The PhilFIDA is mandated to promote the growth and development of the Philippine fiber industry through research and development (R & D) on fibercrops and fiber utilization and technology, production support, extension support, education and training development, standards implementation and trade regulation.
- Formulate and implement integrated programs and comprehensive policy guidelines for a holistic development of the fiber industry in consultation with the industry stakeholders and in coordination with related public agencies.
- Undertake research and development studies in support to production, processing and marketing fibers in both the domestic and global markets;
- Administer and regulate in accordance with the law, the licensing and registration of fiber trade participants and/or partner sectors including fiber baling, tagging, marking, inspection, certification and shipment of philippine commercial fibers;
- Establish a monitoring system in coordination with the Department of Agriculture and related agencies and institutions, both local and global, for the assessment of the fiber supply and demand situation, both domestic and foreign;
- Coordinate the formulation with mandated agencies the official classification standards for various commercial fibers that are or may, hereafter, be produced in the Philippines for local consumption and for export, and enforce the national government's official classification standards;
- Maximize the return of the fiber industry through increased productivity and fiber processing and maximum utilization, consequently, promoting farmers' profitability for a more equitable distribution of wealth;
- Undertake skills development trainings and workshops to improve the technical and entrepreneurial capabilities of fiber producers, classifiers, graders, traders, processors and exporters to improve the quality of commercial fibers;
- Establish regional, provincial as well as municipal stations, whenever possible to coordinate field level activities covering R&D, technical support and assistance, regulation system for the fiber industry;
- Make, enter into, and execute memoranda and contracts in the pursuit to achieving the goals and objectives of PhilFIDA;
- Promote increased utilization, both local and abroad, of commercial fibers as a positive contribution to the national economic growth; and
- Perform such other related functions which shall enhance countryside development, promotion of peace and poverty reduction.