Section 3
SEC. 3. Investments by the Coconut Industry —To ensure that the country shall, within the shortest possible time, have adequate manufacturing facilities for the production of consumer and industrial goods wherein coco-chemicals constitute the principal raw material or an ingredient as substitutes for petro-chemicals, especially when private venture capital is unable or unwilling to make the necessary investments, the bank acquired for the benefit of the coconut farmers under P.D. No. 755, notwithstanding any law to the contrary, is hereby authorized, by itself and/or through the Coconut Industry Investment Fund (CIIF), UNICHEM, or the bank's affiliates and subsidiaries, or other entities, to invest in enterprises and pilot or experimental plants utilizing coco-chemicals as raw material feedstock or ingredient, which enterprises shall be granted the same benefits and incentives under Section 2 hereof.