Proclamation No. 687, s. 1970

Signed on April 25, 1970

MALACAÑANG
RESIDENCE OF THE PRESIDENT
OF THE PHILIPPINES
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

PROCLAMATION NO. 687

ANNOUNCING THE APPROVAL AND EFFECTIVITY OF THE THIRD INVESTMENT PRIORITIES PLAN UNDER THE INVESTMENT INCENTIVE ACT.

WHEREAS, pursuant to the provisions of Republic Act No. 5186, otherwise known as the Investment Incentives Act, the Board of Investments has prepared the Third Investment 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 No. 5186, I, FERDINAND E. MARCOS, President of the Philippines, do hereby declare and proclaim in effect the Third Investment Priorities Plan, hereto attached, beginning May 4, 1970.

It shall be understood that the measured capacities for projects approved under the Second Investment Priorities Plan during the internal period between the submission of the proposed Third Investment Priorities Plan and the date of its effectivity hereof shall be subtracted from the measured capacities as indicated in the approved Third Investment Priorities Plan.

It is hereby further announced that the Board of Investments shall start accepting applications under the Third Investment Priorities Plan on May 4, 1970.

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

Done in the City of Manila, this 25th day of April, in the year of Our Lord, nineteen hundred and seventy.

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

By the President:

(Sgd.) ALEJANDRO MELCHOR
Acting Executive Secretary

Source: University of the Philippines, College of Law Library