Section 2
SEC. 2. Section 5, Subsections (a), (d), (e), (f) and (g) of the said Act are hereby amended to read as follows: "SEC. 5. Purposes.—The Authority shall have the following purposes: To make a comprehensive survey of the physical and natural resources and potentialities of the region, including its social conditions, values and institutions, and special regional problems and, on the basis thereof, to draft a comprehensive and detailed plan designed to promote the region's rapid social and economic development along the general lines set forth by the National Economic and Development Authority. To coordinate and/or integrated such projects or operations of local governments, governmental agencies, public corporations and, where clearly necessary and feasible, those of private entities, as bear directly upon the plans and activities of the Authority so as to make possible the accelerated and balanced development of the region within the context of the guidelines formulated by the National Economic and Development Authority; for this purpose, to set up a compact and well-trained staff for effective liaison and consultation or joint planning and/or implementation with such government and private entities: Provided, That disputes involving jurisdiction between the Authority and any department, bureau, office, or agency or instrumentality of the government within the area covered by this Act, and these arising in the coordination or integration of government plans, projects or operations in the area shall be settled by decisions of the President of the Philippines. To engage in industry, agriculture or other enterprises within the region which may be necessary or directly contributory to the socio-economic development of the region and, for this purpose, whether by itself or in cooperation with private persons or entities, to organize, finance, invest in, and operate subsidiary corporations when such an arrangement is clearly necessary to implement the powers granted to it by this Act: Provided, That the Authority shall engage only in those activities as are in the nature of pioneering ventures or are demonstrably beyond the scope, capacity, or interest of purely private enterprises due to consideration of geography, technical or capital requirements, returns on investments, and risks : Provided, further, That the Authority may undertake and/or invest in social and/or invest in social and/or service-oriented projects upon the prior approval of the President, on recommendation of the National Economic and Development Authority [NEDA]. To advise, cooperate in and, if necessary, to undertake by itself the readjustment, relocation or resettlement of population in any part of the country that may be displace or affected by the socio-economic measures of the government in cooperation with the national, provincial, city and municipal agencies organized towards that end. To make a report annually to the National Economic and Development Authority and the President, based upon its continuing assessment and evaluation, in the light of the Authority's approved plans and objectives, of the progress of its activities, including those done in collaboration with various government and private entities engaged in the implementation of socio-economic plans and projects in the region, including in such report, among other items, a general survey of the social economic conditions of the regions, socio-economic problems having special reference to work of the Authority, a comparison of the development targets set for the year ending and the manner in which actual accomplishments measure up to such targets, and appropriate administrative and legislative recommendations.