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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 458 - DEVOLVING
THE POWERS AND FUNCTIONS OF THE BOARD OF INVESTMENTS OVER INVESTMENTS
WITHIN THE AUTONOMOUS REGION IN MUSLIM MINDANAO TO THE AUTONOMOUS
REGIONAL GOVERNMENT AND FOR OTHER PURPOSES
WHEREAS,
Sec. 27, Article XIII of Republic Act No. 6734, otherwise known as
the Organic Act of the Autonomous Region in Muslim Mindanao (ARMM)
provides that the Autonomous Regional Government (ARG) shall regulate
and exercise authority over foreign investments within its jurisdiction
in accordance with its goals and priorities subject, however, to the
Constitution and national policies;
WHEREAS, the Oversight Committee created under the said Organic Act has
recommended that the Board of Investments devolve its powers and
functions over investments within the ARMM to the Autonomous Regional
Government;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by
virtue of the powers vested in me by law, do hereby order:
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The preferred areas of investment to be listed in the Regional
Investment Priorities Plan shall be based on long-run comparative
advantage, taking into account the value of social objectives and
employing economic criteria along with market, technical, and financial
analysis. The Regional Investment Priorities Plan as formulated shall
be integrated in the national Investment Priorities Plan upon the
approval of the President.
Sec. 4.
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Sec. 6.
DONE if the City of Manila,
this 17th day of May, in the year of Our Lord, nineteen hundred and
ninety-one.
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