ADMINISTRATIVE ORDER NO. 47, July 14, 1954

CREATING A SPECIAL MISSION TO THE UNITED STATES TO STUDY THE POSSIBILITY OF FOREIGN CAPITALISTS’ INVESTING IN THE PHILIPPINES.

There is hereby created a Special Mission to the United States to study the possibility of foreign capitalists’ investing in the Philippines. The Mission shall be composed of the following:

1. Mr. Manuel Gonzales

2. Mr. Ramon del Rosario

3. Mr. Marvin Gray

4. Mr. Miguel Cuaderno

5. Mr. Leonides Virata

6. Mr. John Hausserman

The Mission shall contact persons and firms inclined to foreign investments; convince them of the advantages and opportunities in the Philippines, obtain commitments from them as to amount of investments, their preferred types of endeavor, etc.; and get a cross-section of their requirements as to incentives, government protection, understanding and privileges should they come to the Philippines

The Mission shall submit its report and recommendations to the President of the Philippines upon its return.

It is understood that the Mission will perform its task at no cost to the Philippine Government, as all the members thereof will be paying their own way.

Done in the City of Manila, this 14th day of July, in the year of Our Lord, nineteen hundred and fifty-four, and of the Independence of the Philippines, the ninth.

(Sgd.) RAMON MAGSAYSAY

President of the Philippines

By the President:

(Sgd.) FRED RUIZ CASTRO

Executive Secretary