Preamble
WHEREAS, the development and promotion of Philippine export is essential to economic growth; WHEREAS, there are many export producers which lack the facilities and expertise necessary for direct exports; WHEREAS, it is necessary to encourage these producers to sell to export traders by extending to them the tax benefits available to direct exporters under the National Internal Revenue Code, as amended: NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree: