Preamble
WHEREAS, active participation by the government is necessary to accelerate industrial growth in various sectors of industry and the different regions of the country; WHEREAS, the development of small and medium industries creates permanent employment opportunities and mobilizes human, financial and physical resources especially in the non-urban areas which may otherwise remain unutilized, promotes rural industrialization and expands the middle class sector of the economy; WHEREAS, additional industrial policy instruments are needed to help cope with abrupt and unforeseen changes in world economic conditions that hamper the stability and progress of industrial development, and to maintain the responsiveness of Philippine industry to the needs of the economy and the people; WHEREAS, to attain the above objectives, there is need to restructure its operating units and to strengthen the powers of the Department of Industry; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines by virtue of the powers vested in me by the Constitution, do hereby decree as part of the law of the land the following: