Preamble
WHEREAS, there is an imperative need to amend the NACIDA Law in order to update its provisions and make it attuned with the modern trends in the production and trading of cottage industry products; WHEREAS, cottage industry products now rank as the No. 6. dollar earner among the commodity exports of the nation and deserve to be accorded more incentives for growth and viability; WHEREAS, it is necessary to encourage the establishment and promotion of cottage industries in order to generate more employment opportunities. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby decree and order the amendment of Republic Act No. 3470, as amended by Republic Act No. 5326.