Reorganizing the Phividec Industrial Authority

Case Overview and Summary

Reorganizing the PHIVIDEC Industrial Authority

- Background and Purpose:
    - The PHIVIDEC Industrial Authority (PIA) was established to plan, coordinate and undertake the construction of industrial areas with infrastructure to promote economic and social growth.
    - There is a need to strengthen and upgrade the corporate structure and management of the PIA by separating its Board of Directors from that of the PHIVIDEC.

- Board of Directors (Sec. 1):
    - The Board shall be composed of:
        - The Minister of Finance or representative (ex-officio member)
        - The Minister of Trade and Industry or representative (ex-officio member)
        - Seven (7) members appointed by the President for a term of three (3) years, upon recommendation of the Minister of National Defense, from among qualified veterans, retirees, their dependents, or active military personnel.
            - Appointees must have integrity, experience, and expertise in finance, management, economics, law, or government administration.
    - The President shall designate the Chairman and Vice-Chairman (who shall be the Administrator) from among the appointive members.
    - The Board shall meet at least once a month, and a quorum of five (5) members is required for decisions.
    - Each member shall receive a per diem of P300.00 for every meeting attended, unless the Board fixes a higher amount.

- Transition Provisions (Sec. 2):
    - The current members shall holdover until their successors are appointed and qualified under this Executive Order.
    - The Ministers of Finance and Trade & Industry, or their representatives, shall immediately sit as members of the existing Board.

- Repealing Clause (Sec. 3):
    - Any inconsistent law, decree, executive order, rule or regulation is repealed, amended or modified accordingly.

- Effectivity (Sec. 4):
    - This Executive Order shall take effect immediately.