A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
theChan Robles Virtual Law Library
This page features the full text of
Republic Act No. 7470
"National
Economic Research and Business Assistance Center of the Philippines Act
of 1992"
AN
ACT ESTABLISHING THE NATIONAL ECONOMIC RESEARCH AND BUSINESS ASSISTANCE
CENTER OF THE PHILIPPINES, APPROPRIATING FUNDS THEREFOR, AND FOR OTHER
PURPOSES.
REPUBLIC
ACT NO. 7470
AN
ACT ESTABLISHING THE NATIONAL ECONOMIC RESEARCH AND BUSINESS ASSISTANCE
CENTER OF THE PHILIPPINES, APPROPRIATING FUNDS THEREFOR, AND FOR OTHER
PURPOSES.
Section
1. Title. — This Act shall be
known as the "National Economic Research and Business Assistance
Center
of the Philippines Act of 1992."chanrobles virtuallaw libraryred
Sec.
2. Declaration of Policy. — It
is the policy of the State to enhance economic growth by providing
necessary
and strategic economic and business information and research assistance
thereby expediting the process of business formation and encouraging
the
growth of entrepreneurship in the country.
chanrobles virtuallaw libraryred
Sec.
3. Creation. — There is hereby
created the National Economic Research and Business Assistance Center
(NERBAC)
of the Philippines, hereinafter referred to as the Center, which shall
be placed under the Department of Trade and Industry.chanrobles virtual law library
Sec.
4. Purpose. — The Center shall
provide prospective entrepreneurs/investors with the basic information
on various business options that are open to them in accordance with
the
investment priorities of the Government. The Center shall likewise
provide
a one-stop action center which shall facilitate the processing and
documentation
of all paper requirements necessary for the establishment of a business
enterprise in the country, including credit services. chanrobles virtuallaw libraryred
Sec.
5. Functions. — The Center shall
perform the following functions:
(a) To
provide information to prospective investors, both local and foreign,
on
the different kinds of business opportunities that are in accord with
set
investment priorities of the Government; chanrobles virtuallaw libraryred(b) To
establish an updated data bank of all industries and business
enterprise
in the country; chanrobles virtuallaw libraryred
(c) To
prepare pre-feasibility studies of existing as well as possible
industries
in the Philippines that can help entrepreneurs decide on what business
to venture into;
(d) To
organize and maintain a centralized one-stop shop services or
assistance
center that shall expedite the processing of all government
requirements
necessary in establishing a business;
(e) To
monitor technological advances relevant to business and economy, and
disseminate
such information to Filipino entrepreneurs and the public in
general;
(f) To
formulate and coordinate the conduct of relevant research projects to
help
attain the Center's goals;
(g) To
monitor and collate economic, technical, and industry research output
of
all government agencies that has reference to business enterprises, as
well as to investors in the country; chanrobles virtuallaw libraryred
(h) To
collect and facilitate the gathering of information on the kind of
technology/machinery
needed, their prices, specifications, and where they can be purchased
or
leased, as well as to help rehabilitate and modernize existing
machinery
and equipment of essential industries; and
(i) To
facilitate the gathering of information on how to harness indigenous
resources
and technology required for our development efforts.
Sec.
6. Structural Organization. —
The Center shall have a Board of Governors under which shall be the
Office
of the Director General and the Office of the Deputy Director General.
Under the Office of the Director General shall be two (2) departments
which
shall be headed by their respective directors, namely on: Agriculture,
Fishery and Forestry, to handle all agricultural, agri-based,
agribusiness,
marine and aquaculture, and forestry matters; and Industry, Utilities
and
Services, to handle all industrial, utilities and service-related
matters.
Under each department shall be three (3) divisions which shall be
headed
by their division chiefs, namely on: Technical Research Assistance, to
handle production and related matters; Pre-feasibility Studies
Assistance,
to handle all pre-feasibility studies and related matters; and Trade
and
Marketing Assistance, to handle market research and related matters,
both
for domestic and international: Provided, That a central documentation
and information service headed by a director, to handle all
documentation,
information and related mattes, including public relations, shall be
constituted
to provide staff support to the Director General.
chanrobles virtuallaw libraryred
Sec.
7. Board of Governors. — The
Board of Governors shall have the following powers and functions: chanrobles virtuallaw libraryred
(a) To
formulate policies, guidelines and programs to effectively implement
the
purposes of the Center; chanrobles virtuallaw libraryred(b) To
approve the annual and supplemental budgets of the Center;
(c) To
fix any services or similar fees the Center may charge the end-users of
its services;
(d) To
promulgate rules as may be necessary for the effective exercise of the
powers and functions of the Center;
(e) To
authorize any contract or agreement as may be necessary for the proper,
efficient and stable administration of the Center;
(f) To
prepare and submit periodic and/or special reports to the
President; chanrobles virtuallaw libraryred
(g) To
determine and approve the appointment of other officers of the Center,
with their corresponding qualifications, duties and emoluments;
and
(h) To
appoint consultants and acknowledged experts in their respective fields
as may be necessary for the realization of this Act. chanrobles virtuallaw libraryred
Sec.
8. Board of Governors: Composition,
Term and Compensation. — The Center shall be governed and its
activities
and properties shall be managed by a Board of Governors which shall be
chaired by the Secretary of Trade and Industry and ten (10) other
Filipino
citizens, five (5) of whom shall come from the government sector,
namely:
the secretaries of the National Economic and Development Authority, the
Department of Foreign Affairs, the Department of Finance, the
Department
of Agriculture, and the Department of Environment and Natural
Resources;
and five (5) of whom shall come from the private sector whose functions
shall be related to the purposes of the Center, all of whom shall be
appointed
by the President: Provided, That a representative from the private
sector
shall be appointed as Vice-Chairman: Provided, further, That the ex
officio
Vice-Chairman shall be the Director General: Provided, finally, That
all
Board members shall have a broad experience in business, management or
finance.chanrobles virtual law library
chanrobles virtuallaw libraryred
The
term of office of the Board members from the government sector shall be
for the duration of their public office while the term of office of the
private sector Board members shall be three (3) years each until their
successors shall have been appointed: Provided, That they shall be
eligible
for reappointment after the expiration of their respective terms.chanrobles virtual law library
The
Board members shall meet regularly at least once a month and as often
as
the exigencies of the service demand. The presence of at least six (6)
members shall constitute a quorum, and the vote of majority of the
members
present shall be necessary for the adoption of any resolution, rule or
decision. chanrobles virtuallaw libraryred
The
Board members shall receive for every meeting attended a per diem to be
fixed by the President of the Philippines.cralaw:red
Sec.
9. Office of the Director General.
— The chief operating officer and principal representative of the
Center
shall be the Director General assisted by a Deputy Director General,
working
full time, both to be appointed by the President: Provided, That such
appointment
shall be subject to confirmation by the Commission on
Appointments.cralaw:red
Sec.
10. Coordination with Government
Agencies. — Government agencies concerned shall coordinate with the
Center
and are hereby obliged to give economic information and such other
assistance
for taxation purposes, as well as to act on the applications submitted
by investors on any problem concerning the setting up of business in
the
Philippines. For this purpose, all government agencies concerned with
business
documentation and processing shall henceforth detail their appropriate
representatives to the Center: Provided, That such government agencies
shall provide for such detailed personnel's salaries and/or other
emoluments.cralaw:red
Moreover,
the Department of Foreign Affairs, through its commercial attaches
worldwide,
shall extend assistance to the Center by disseminating economic data
properly
released by the Center to the different countries concerned. The
commercial
attaches shall also furnish the Center with current and relevant
economic
data from other countries for circulation in the Philippines. chanrobles virtuallaw libraryred
Sec.
11. Vacancy Before Expiration
of Term. — Any private sector Board member appointed by the President
to
fill a vacancy in the Board of Governors occurring prior to the
expiration
of the term for which his predecessor was appointed shall serve only
for
the unexpired portion of his predecessor.cralaw:red
Sec.
12. Removal or Suspension for
Cause. — An officer of the Center may be suspended or removed by the
President
for mismanagement, grave abuse of discretion, infidelity in the conduct
of fiduciary relations, gross negligence in the performance of duties,
dishonesty, corruption, or any act involving moral turpitude.cralaw:red
Sec.
13. Appointment, Promotion, Terms
and Conditions of Employment. — The officers and employees of the
Center
shall be covered by the Civil Service Law, as well as the rules of the
Office of Compensation and Position Classification.cralaw:red
Sec.
14. Location. — The Center's
head office shall be located in a convenient and accessible site in the
National Capital Region: Provided, That the regional offices of the
Center
may be integrated with the regional offices of the Department of Trade
and Industry whenever feasible and shall obtain all its service
functions
under one roof, including the head office. chanrobles virtuallaw libraryred
Sec.
15. Appropriations. — An amount
not exceeding Fifteen million pesos (P15,000,000) to provide for the
initial
implementation of this Act shall be charged against the Contingent
Fund.
Thereafter, the amount necessary for the continued operation of the
Center
shall be included in the General Appropriations Act as part of the
budget
of the Department of Trade and Industry.cralaw:red
Sec.
16. Implementing Guidelines.
— The Department of Trade and Industry shall make all other necessary
guidelines
for the proper and effective implementation of this Act.cralaw:red
Sec.
17. Repealing Clause. — All other
provisions of law contrary to or inconsistent with this Act are hereby
repealed or modified accordingly.
Sec.
18. Effectivity Clause. — This
Act shall take effect fifteen (15) days after its complete publication
in two (2) newspapers of general circulation. chanrobles virtuallaw libraryred
Approved:
April
29, 1992
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