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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 419 - DECLARING
A MORATORIUM ON THE ESTABLISHMENT OF DUTY-FREE STORES/OUTLETS IN THE
PHILIPPINES
WHEREAS,
Republic Act No. 7227 established among others, the Subic Bay Freeport
Zone and Clark Special Economic Zone, to encourage, promote and
accelerate the industrial, economic and social development of Central
Luzon in particular and the country in general;
WHEREAS, pursuant to Executive Order Nos. 80, 97 and 97-A, business
enterprises operating inside the Special Economic and Freeport Zones
(SEFZs) of Subic and Clark have been granted tax and duty free
incentives on their importations of raw materials, capital goods and
equipment brought into the Subic and Clark SEFZs;
WHEREAS, pursuant to said policy, duty free stores/outlets have
proliferated and product lines have expanded, further broadening the
entry of duty free goods into the domestic economy;
WHEREAS, there is an urgent need to address the adverse effects on
local manufacturing and retailing enterprises of these duty free goods
entering through the duty free stores/outlets.
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the
Philippines, by virtue of the powers vested in me by law, do hereby
order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4. Since 19.07.98.
DONE, in the City of Manila
this 16th day of June in the year of Our Lord, Nineteen Hundred and
Ninety-Seven.
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