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MALACAÑAN PALACE
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ Proclamation No. 553, May 2, 1969 ]

ANNOUNCING THE APPROVAL AND EFFECTIVITY OF THE SECOND INVESTMENTS 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 Second Investments Priorities Plan and the same has been submitted to me for approval through, and with the favorable recommendation of, the National Economic Council, and

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;

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 Second Investments Priorities Plan, hereto attached.

It shall be understood that the measured capacities for projects approved under the First Investments Priorities Plan during the interm period between the submission of the proposed Second Investments Priorities Plan and the approval hereof, shall be subtracted from the measured capacities as indicated in the approved Second Investments Priorities Plan.

It is hereby further announced that the Board of Investments shall start accepting applications under the Second Investments Priorities Plan on May 1, 1969.1aшphi1

IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.

Done in the City of Manila, this 2nd day of May, in the year of Our Lord, nineteen hundred and sixty-nine.

(Sgd.) FERDINAND E. MARCOS
President of the Philippines

By the President:

(Sgd.) RAFAEL M. SALAS
Executive Secretary

The Lawphil Project - Arellano Law Foundation

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