Section 7
SEC. 7. The first and fourth paragraph of Section 18 of the same Act is hereby amended to read as follows: "SEC. 18. Preferred and Pioneer Areas of Investment.— The Board of Investments shall submit to the President, not later than the end of January of every year, through the National Economic and Development Authority, an Investment Priorities Plan and Public Utilities Priorities Plan, as defined in Section 3(k) and (1) of this Act. * * * * * * * Considering the amount of investment capital which the Board may estimate to be available during any given year, the Board shall give priority to projects with the highest rates of return to the national economy. No project shall be included in the Investment Priorities Plan or Public Utilities Priorities Plan, nor declared a preferred area of investment, nor designated a pioneer area, unless it is shown to be economically, technically and financially sound after thorough investigation and analysis by the Board. In any of the areas declared preferred areas of investment, the Board may designate as pioneer areas the specific products, commodities and services that meet the requirements of Section three, paragraph (h) of this Act."