MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Proclamation No. 404, June 1, 1968 ]
ANNOUNCING THE APPROVAL AND EFFECTIVITY OF THE FIRST INVESTMENT PRIORITIES PLAN UNDER THE INVESTMENT INCENTIVES ACT.
WHEREAS, pursuant to the provisions of Republic Act 5186, otherwise known as the Investment Incentives Act, the Board of Investments has prepared the first Investments Priorities Plan and the same has been submitted to me for approval thru, and with the recommendation of, the National Economic Council.
WHEREAS, after a careful study of the Plan and its supporting data, I have found the Plan to be feasible and in conformity with law and accordingly approved it, except for minor changes in terminology as follows:
|
FROM |
TO |
| (a) |
Integrated Copper Plant |
Processing of copper Concentrates, smelting and refining |
| (b) |
Manufacture of parts and components of machinery and equipment |
Manufacture of parts and components of machinery and equipment. (To clarify, this category includes industrial agricultural, automotive, construction, mining and transport machinery and not heretofore manufactured and will lead to complete manufacture of above listed equipment.) |
| (c) |
Shipbuilding Ocean-going and Inter-island vessels |
Shipbuilding Ocean-going and interisland vessels. (This category includes special vessels such as tankers, refrigeration, cattle, ore, chemicals, and others of similar nature.) |
NOW, THEREFORE, pursuant to Section 18 of Republic Act 5186, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, do hereby declare and proclaim in effect the first Investments Priorities Plan, hereto attached.
IN WITNESS WHEREOF, I have hereunto set may hand and caused the seal of the Republic of the Philippines to be affixed.1aшphi1
Done in the City of Manila, this 1st day of June, in the year of Our Lord, nineteen hundred and sixty-eight.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
By the President:
(Sgd.) RAFAEL M. SALAS
Executive Secretary
The Lawphil Project - Arellano Law Foundation
