Preamble
WHEREAS, on May 11, 1973, the Central Bank of the Philippines, the National Economic and Development Authority, the Development Bank of the Philippines, the Government Service Insurance System, the Social Security System, and the Philippine National Bank, as developmental instrumentalities of the Government dedicated to the promotion of wealth and welfare in the New Society, have entered into a memorandum agreement to establish, as their joint project, the Development Academy of the Philippines; WHEREAS, the Development Academy of the Philippines was conceived by the said founding institutions for the purpose of promoting and supporting the developmental efforts of the country by carrying out human resource development programs designed to instill development perspectives and advance management capability in the leadership of key sectors of the Government and the economy, as well as research, analysis, and publications programs of depth and quality to service the requirements of development planning, management, and implementation at both the macro and project levels; and WHEREAS, in order to effectively fulfill its purposes, it is imperative that the Development Academy of the Philippines be endowed with juridical status and conferred with certain privileges, to the end that its activities be undertaken with greater vigor, resources and direction; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, do hereby create and establish a body corporate to be known as the Development Academy of the Philippines, which shall operate in accordance with the following provisions: