Section 2
SEC. 2. Pioneer Enterprises —Within the period herein Prescribed, enterprises established either by existing or new companies which will utilize coco-chemicals as raw material feedstock in the manufacture, processing or pro-auction of goods, products, or commodities are hereby declared pioneer enterprises in a preferred area of investment and upon due application with the Board of Investments ("BOI"), shall be granted all the benefits and incentives accorded to such enterprises by the Omnibus Investments Code (P.D. No. 1789) and such other benefits and incentives as may hereafter be granted by law, rules, and regulations, on condition that they will continue to utilize coco-chemicals as their raw material feedstock. To avail of the benefits and incentives herein granted, the enterprises must be registered with the BOI within ten (10) years from the effectivity of this Decree, unless it is sooner determined by the BOI in the exercise of its delegated powers that the particular area of investment herein contemplated is adequately exploited.