Question & AnswerQ&A (EXECUTIVE ORDER NO. 433)
The purpose of Executive Order No. 433 is to establish the criteria for conferring Presidential Citations to private business individuals and entities, both foreign and local, who have made exceptional contributions towards the attainment of Philippine economic and development goals.
The three categories are: 1) Investors, 2) Exporters, 3) Special Award for world-renowned corporations on the verge of making significant investments.
An investor must have an equity investment of at least US $100 million or provide at least 5,000 jobs, have been in the Philippines for over 10 years, and maintain a good track record in labor relations, environmental practice, and community relations.
Exporters must have annual exports of over US $1.0 billion of merchandise or US $50 million of services.
The citation shall be granted to private business individuals and entities, whether foreign or local, in recognition of their exceptional contributions toward national economic and development goals. It is conferred upon the Chairman or Chief Executive Officer of the head office of the corporation or enterprise.
The award is in the form of a Presidential Citation containing the signature of the President.
The Department of Trade and Industry (DTI) is the lead agency responsible for consulting with relevant departments and promulgating implementing guidelines within thirty days from the issuance of the order.
No, the Executive Order No. 433 does not specify penalties as it concerns the award and recognition criteria.
The order took effect immediately upon issuance on August 7, 1997.