WHEREAS, to improve the businessman's/investor's perception of the Philippines as an attractive, viable and practical investment option and to encourage investments, there is a need to establish a Council which will promote, coordinate, and facilitate investment development efforts of the government.

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do hereby order:

SECTION 1. Council for Investments in Trade, Tourism, Agriculture, Natural Resources, Transportation, Communications and Services. - There is hereby created a Council for Investments in Trade, Industry, Tourism, Communications and Services hereinafter referred to as the "Council".

The Council shall be composed of:

(a)	The Secretary of Trade and Industry	- Chairman
(b)	The Secretary of Finance	- Member
(c)	The Secretary of Agriculture and Food	- Member
(d)	The Secretary of Natural Resources	- Member
(e)	The Secretary of Transportation and Communications	- Member
(f)	The Governor, Central Bank of the Philippines	- Member
(g)	The Assistant Secretary of Foreign Affairs for Overseas Economic Promotion	- Member
(h)	Two representatives from the private sector who shall be appointed by the President to serve for a term of two years	- Member

In the absence of an ex-officio member of the Council, he shall be represented by a duly authorized official in his Office or Department.

The Council shall be organized and hold its first meeting within thirty (30) days from the promulgation of this Executive Order.

SECTION 2. Powers and Functions of the Council. - The Council shall have the following powers and functions:

a. To coordinate investment development efforts of the Government;

b. To promote the country as an attractive investment area in identified sectors;

c. To maintain close contact and liaison with government offices or agencies concerned with investments. For this purpose, the Council is empowered to require the full time detail of representatives from government agencies concerned with investments in trade, tourism, agriculture, natural resources, transportation, communications, and services to the "Investment One Stop Action Center" created herein. Such representatives shall be empowered to receive, process, act on and sign the pertinent applications and clearances for their respective offices/agencies;

d. To act as a one stop action center for foreign and local investors with authority to act on any problems concerning the setting up of business or making of investments in the Philippines;

e. To establish an effective system for disseminating information, both locally and abroad, on Philippine investment prospect and opportunities;

f. To submit annual reports to the President of the Philippines regarding the activities of the Council.

g. To recommend the modification/amendments of existing legislation and procedures to remove disincentives for investments both local and foreign.

SECTION 3. Meetings, Quorum and Secretariat. - The Council shall meet once a month on a date and at a place to be determined by the members. The presence of six (6) members shall constitute a quorum for the doing of business.

The Board of Investments shall act as the Secretariat of the Council.

SECTION 4. Honoraria and Allowances. - The Council may in its discretion provide for honoraria and allowances for council members and its personnel subject to existing rules and regulations.

SECTION 5. Investment One Stop Action Center. - There is hereby created as part of the Council an "Investment One Stop Action Center" which shall be established in the Board of Investments.

a. Powers and Functions of the Investment One Stop Action Center. - The Investment One Stop Action Center shall have the following powers and functions:

1. To provide assistance to local and foreign investors, including trade and economic foreign missions, by providing information, advice and guidance on pertinent laws and procedures relative to the foreign and local investments and the doing of business in the Philippines.

2. To accept and act on applications for investments in the Philippines. For this purpose, applications and other documents such as but not limited to the following may be filed and acted upon by it:

aa.	Articles of Incorporation;
bb.	Business Name;
cc.	Doing Business with or without incentives;
dd.	Special Investor Resident's Visa which need not be filed in the investor's country, and
ee.	Employment of foreign nationals .

b. Center Representatives. - The ex-officio members of the Council shall, within fifteen (15) days from the effectivity hereof, detail representatives of appropriate rank to the Investment One Stop Action Center with authority to give information assistance as well as act on the applications submitted to the Investment One Stop Action Center. In addition, the Council shall require the detail of representatives of other government offices concerned with the entry of foreign investments and doing business in the Philippines with the same authority as the above.

Whenever more detailed evaluation of documents and papers submitted to the Investment One Stop Action Center are necessary, the Investment One Stop Action Center representatives shall be responsible for monitoring the status of such documents and papers and ensuring that they are returned to the Investment One Stop Action Center and the applicant in the shortest time possible.

c. Priority. - All government offices represented shall ensure that priority of action is given to documents and papers referred to them by the Center.

SECTION 6. Support Centers. - There are hereby created as part of the Council an Investment Information Center and Investment Promotion Center to support the requirements of the Investment One Stop Action Center.

SECTION 7. Appropriations. - To carry out the provisions of this Executive Order, the Council shall submit the supplemental Budget to the Ministry of Budget and Management which shall set aside the amount of Four Million Pesos for its organizational expenses and the amount necessary to cover its current operational expenses from any fund in the National Treasury not otherwise appropriated. Thereafter, appropriations for the Council shall be included in the annual budget of the Board of Investments.

SECTION 8. Rules and Regulations. - The Council shall promulgate the rules and regulations to implement the provisions of this Executive Order. Such rules and regulations shall take effect fifteen (15) days after their publication in a newspaper of general circulation.

SECTION 9. Separability Clause. - In the event that the provisions of this Executive Order are hereby declared to be separable and in the event any provision or part thereof is declared unconstitutional the other provisions or parts thereof which are not affected thereby shall remain in full force and effect.

SECTION 10. Repealing Clause. - The provisions of Executive Order No. 845 and all other laws, orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.

SECTION 11. Effectivity. - This Executive Order shall take effect immediately.

Done in the City of Manila, this 27th day of February in the year of Our Lord, nineteen hundred and eighty-seven.


By the President:

(Sgd.) JOKER P. ARROYO
Executive Secretary