Construction of Facility for Convention-Related Products

May 11, 1983

LETTER OF INSTRUCTIONS NO. 1322

TO : The Central Bank of the Philippines

WHEREAS, international conventions held in the country are mostly identified with commerce, science, technology, tourism and trade;

WHEREAS, the trend is now for organizers of such convention to conduct as an integral part thereof exhibits, displays and promotion of convention-related products not only to attract more convention participants but likewise sponsors and contributors to the convention thereby generating more convention revenues at lesser cost to the participant; casia

WHEREAS, there is at present no such facility in the Philippine International Convention Center and neither would other existing display and exhibit centers suffice for the purpose;

WHEREAS, to bolster the competitiveness of the Philippines as a venue for the holding of international conventions, which could accordingly mean more foreign exchange receipts for the country, there is a pressing need that such facility be provided for;

WHEREAS, the Central Bank of the Philippines, being the institution which established the Philippine International Convention Center, is in the most suitable position to construct said facility;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby order and instruct the Central Bank of the Philippines to provide for, establish a display room adjacent to and as a part of the Philippine International Convention Center a suitable Hall to be used as the facility for the display, exhibit and promotion of products and for the conduct of other activities which are convention-related, to be managed, administered and operated by the Duty Free Shops Incorporated subject to the supervision of the Ministry of Tourism, and to appropriate all the funds needed therefor.

In view of the foreign exchange earnings to be derived from the operations of aforesaid Hall, the Central Bank of the Philippines is hereby authorized to allocated foreign exchange funds for the purpose. cdt

These Instructions shall take effect immediately.

DONE in the City of Manila, this 11th day of May, in the year of Our Lord, Nineteen Hundred and Eighty-Three.