MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Memorandum Circular No. 189, June 1, 1968 ]
DECLARING THE CONTINUED EFFECTIVITY OF ADMINISTRATIVE ORDER NO. 21
On September 6, 1966, this Office issued Administrative Order No. 21 expressing the government position on domestic foreign investments and declaring the areas of investment which the Philippine Government would like to encourage. Subsequently, Congress enacted Republic Act 5186, the Investment Incentives Act, in pursuance of which an Investments Priorities Plan has been drawn up by the Board of Investments and approved by this Office.
Under the circumstances, there is a need to clarify effect of Republic Act 5186 on Administrative Order 21 and their respective roles.1âшphi1
Wherefore, it is hereby declared that the inducement of investments in the areas designated as preferred in the approved Investment Priorities Plan shall be the immediate objective of the Philippine Government; that Administrative r No. 21, so long as it is not modified by law, shall remain operative as a general expression of the long-range investment goals of the Philippine Government; and that the enterprise, engaged in the economic activities listed in said Administrative Order shall continue to enjoy the incentives therein specified, without prejudice to the (right of enterprises registered with the Board of Investments to avail of the broader incentives under Republic Act 5186.
Manila, June 1, 1968.
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