Preamble
WHEREAS, Republic Act No. 3018 was enacted into law in 1960 to nationalize the rice and corn industry; WHEREAS, after thirteen (13) years of operation, the law has to a great extent succeeded in transferring the rice and corn industry in all its aspects to Filipinos and Filipino-owned entities; WHEREAS, the existing law has created artificial restraints in the national effort to develop the rice and corn industry; WHEREAS, it is imperative to lift the prohibition especially in cases where grains, including rice and corn and/or by-products thereof, are used for direct consumption or as raw materials in the manufacture or processing of their finished products; and WHEREAS, there is need to encourage foreign investment on a large scale to develop virgin lands for rice and corn; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, do hereby order and decree: