EXECUTIVE ORDER NO. 520 - AMENDING EXECUTIVE ORDER NO. 499 DATED DECEMBER 23, 1991 CREATING AN EXPORT AND INVESTMENT DEVELOPMENT COUNCIL DEFINING ITS COMPOSITION, POWERS AND FUNCTIONS, TO INCLUDE IN THE COUNCIL THE SECRETARY OF FOREIGN AFFAIRS

WHEREAS, the Department of Foreign Affairs, whose primary tasks are, among others, the promotion of Philippine export to markets abroad and the encouragement of foreign investments into the Philippines is fully prepared to be involved in, and be utilized by, the Export and Investment Development Council (EIDC) in discharging the latter’s functions to provide advice on export and investment development efforts of the government; review and assess the country’s export and investment performance; identify main bottlenecks and problems in all areas affecting the development of exports and investments; and provide advice or specific measures to remove bottlenecks and problems.  

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, do hereby amend Section 1 of Executive Order No. 499 dated December 23, 1991, to read as follows:

“Section 1. Composition. — The Export and Investment Development Council shall be composed of the following:

a. Secretary of Trade and Industry   Chairman
b. Secretary of Finance     Vice-Chairman
c. Secretary of Foreign Affairs Members
d. Director-General of NEDA   Member
e. Governor of the Central Bank of the
Philippines Member
f. Four (4) Representatives of the
  Private Sector  Members”

Since 19.07.98.