Preamble
WHEREAS, it is the policy of the State to encourage and promote foreign investments in the various economic activities of the country provided their participation is consistent with national goals and policies; WHEREAS, the accelerated entry of foreign investments at this time of economic difficulty will contribute to the achievement of economic goals; WHEREAS, there is an increased interest on the part of foreign investors to enter into joint ventures with Philippine partners particularly in preferred areas of investments as defined in the Omnibus Investments Code, as amended; WHEREAS, it is in the best interest of the State to relax the nationality requirements provided in the said Code for a limited period in order to facilitate the entry of foreign investments; 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: