Preamble
WHEREAS, the Government encourages, promotes and develops the export of goods and services, and the establishment and operation of private enterprises engaged in the manufacture of capital goods; WHEREAS, the development of the export and capital goods industry is hampered by the lack of proper credit, guarantee, and insurance facilities at rates and on terms and conditions which will place the nation’s experts at a competitive level in the international market and will enable local industries to manufacture capital goods, likewise at levels competitive with imported goods and services; WHEREAS, there is a need to establish a government-owned or controlled corporation to provide the required credit, guarantee and insurance facilities at preferential rates and on liberal terms and conditions; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following: