Preamble
WHEREAS, the Philippines is endowed with rich agricultural lands which need immediate development for food production; WHEREAS, the Government is providing all possible incentives to further encourage investors to develop our vast agricultural resources; WHEREAS, the use by agro-Industrial entities and farmers of aircraft for agricultural purposes will hasten and maximize the development of our agricultural resources and increase production; and WHEREAS, incentives to encourage development of mineral resources already include the exemption from customs duties of aircraft imported for the development and exploitation of mineral resources while the incentives for agricultural development do not include this kind of exemption; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby amend Section 105 of the Tariff and Customs Code, as amended, to wit: