EXECUTIVE ORDER No. 428 May 18, 2005

DIRECTING DEPARTMENT, BUREAUS, OFFICES AND OTHER AGENCIES IN THE EXECUTIVE BRANCH, INCLUDING GOVERNMENT – OWNED AND CONTROLLED CORPORATIONS TO SIMPLIFY RULES AND REGULATIONS AND REDUCE REPORTORIAL REQUIREMENTS TO FACILITATE DOING BUSINESS AND ENCOURAGE MORE INVESTMENTS IN THE COUNTRY

WHEREAS, the elimination of poverty is the overriding goal of the administration, with the private sector serving as the leading engine of development and progress;

WHEREAS, a vigorous and progressive business sector is essential in the attainment of national socio-economic objectives;

WHEREAS, existing government rules, regulations and procedures including reportorial requirements, cause undue difficulty to private businesses and individual citizens alike, thus discouraging investment and business expansion, and hampering the attainment of a vibrant and progressive economy that demands simpler and reduced rules and regulations for business and industry in order to be more competitive with other countries;

NOW, THEREFORE, I, GLORIA MACAPAGAL - ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

1. Departments, bureaus, agencies and offices in the Executive Branch of Government, including Government-Owned and Controlled Corporations (GOCCs) are hereby directed to simplify rules, regulations, procedures and reduce reportorial requirements imposed for business and industry, with the aim of eliminating duplication and unnecessary requirements, thereby attracting and encouraging more investments and allowing business and industry to devote maximum effort and time to their operation and expansion rather than to compliance with excessive bureaucratic requirements. Local Government Units are encouraged to adopt similar measures.

2. The Executive Secretary shall see to it that this Order is effectively carried out.

3. This Executive Order shall take effect immediately.

DONE in the City of Manila, this 18th day of May, in the year of Our Lord, Two Thousand and Five.

(Sgd.) GLORIA MACAPAGAL-ARROYO

By the President:

(Sgd.) EDUARDO R. ERMITA

Executive Secretary