I have scrapped the plan to release Operations Sea Hawk., the subversive activities and the new front in Calbiga, Swnar as these may prejudice the trip of Imelda to Peking.
But Sec. [Juan] Ponce Enrile will brief both the Supreme Court and the Cabinet as well as the U.S. Embassy and military on what is happening, including those in Mindanao.
I have ordered the resumption of the export of copra, coconut oil and coconut products provided the exporter certifies under oath that he purchased the raw copra (resicada) at P280 per 100 kilos. The guarantees the producer a reasonable price.
And ordered 20% of the entire copra and coconut production to be bought by the Philippine National Bank.
Official Gazette for August 2, 1974: THE PRESIDENT told some 100 heads of delegation to two world Chinese conferences in Manila that the free enterprise policy of the government has made it easy for foreign businessmen to enter the country The two conferences were the Sixth World Chinese Banking Amity Conference and the Fourth World Chinese Tourism Amity Conference whose delegation heads paid a courtesy call on the Chief Executive The President explained that before the new policy foreign businessmen, especially Chinese nationals, found it very difficult to enter the Philippines.
MANILA office of the Philippine Amanah Bank at Doña Amparo Building on España was inaugurated by the President with the First Lady cutting the ceremonial ribbon. Diplomatic representatives of four Muslim countries—Indonesia, Malaysia, Saudi Arabia and Egypt—witnessed the affair, described by the President as yet another indication of the government’s policy to achieve national unity. “The success of this bank will mean the acceleration of the social, economic and political progress of Mindanao and will make our Muslim brothers equal partners of their brethren in Luzon and the Visayas in the adventure of nation-building,” the President declared.
CENTRAL Bank reiterated that the country welcomes more foreign investments in the newly-liberalized areas of the Philippine economy. CB Governor Gregorio S. Licaros said these liberalized areas are economic ventures listed by the Board of Investments for Filipinos’ major participation. The CB official said that after three years from the date the projects are listed in the BOI’s annual investments priorities plans and the measured capacities are not applied for by Filipinos, the same areas of investments are opened 100 per cent to foreign investors. Aside from this, Governor Licaros said that full foreign ownership is possible in industries included in the Export Priorities Plan and those industries included in the pioneer areas of investments as defined in the investment Priorities Plan.
DEPARTMENT of Labor called on Philippine organized labor to avoid being drawn into “trade union wars” which could have an unsettling effect on the labor relations and industrial productivity. In a meeting with leaders of major labor federations, Secretary Blas F. Ople stated that they should instead seek an orderly restructuring into responsible industrial unions in accordance with the New Labor Code. Mr. Ople who called “trade union warfare” as “wasteful and counter-productive said the government support of trade union unification and restructuring was based on the principle that a “reorganized trade union movement would pursue policies in harmony with the priorities of national development and with regard for our competitive position m the world.”