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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 138 -
SIMPLIFYING THE PROCEDURES ON PHILIPPINE GOVERNMENT APPROVAL OF
PROJECTS/INVESTMENTS IN THE PHILIPPINES FOR PURPOSES OF OVERSEAS
PRIVATE INVESTMENT CORPORATION (OPIC) POLITICAL RISKS INSURANCE
COVERAGE AND FOR OTHER PURPOSES
WHEREAS,
the Governments of the Republic of the Philippines and the United
States of America have entered into an Investment Guarantee Agreement
under the Exchange of Notes, dated February 18 and 19, 1952, as amended
on February 25, 1965 and August 15, 1966, concerning investment
pursuant for projects/investments made by United States nationals in
the Philippines against political risks;
WHEREAS, such political risk investment guarantees for United States
investments in the Philippines are being issued by the Overseas Private
Investment Corporation (OPIC), while Philippine Government approval of
projects/investments for purposes Overseas Private Investment
Corporation (OPIC) investment guarantees, is presently granted by the
National Economic and Development Authority (NEDA);
WHEREAS, it is imperative that the existing procedures which require
approval of projects/investments for Overseas Private Investment
Corporation (OPIC) investment guarantees be simplified and
streamlined;
NOW, THEREFORE, I CORAZON C. AQUINO, President of the Philippines, do
hereby order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Done in the City of Manila,
this 27th day of February in the year of Our Lord, nineteen hundred and
eighty-seven.
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