Preamble
WHEREAS, there are priority projects that need to be undertaken in order to accelerate national economic development; WHEREAS, the National Development Company is a major corporate vehicle of the Government empowered to engage or invest in commercial, industrial, agricultural, mining, and other enterprises where government investment in necessary to foster economic development; WHEREAS, in the pursuit of these objectives, it is necessary that the National Development Company act expeditiously and with the highest degree of efficiency and competence; 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 and make part of the law of the land, the following: