EXECUTIVE ORDER NO. 193

: Before EO No. 193, CIAC was a subsidiary of the Bases Conversion Development Authority (BCDA) pursuant to Executive Order No. 186.
: The Clark International Airport Corporation (CIAC) is designated to operate and manage the Clark Civil Aviation Complex.
: The CDC envisions developing the Clark Special Economic Zone (CSEZ) as an “aerotropolis” or a globally competitive urban center with the Diosdado Macapagal International Airport (DMIA) as its centerpiece.
: The EO seeks to foster closer coordination and synergy in the development of the DMIA and the CSEZ by establishing CIAC as a subsidiary of CDC.
: The Chairman of the Clark Development Corporation (CDC) is directed to prepare the plan and take necessary steps for this establishment.
: The CDC Chairman must submit the proposed articles of incorporation, the by-laws of CIAC, and its capitalization for approval.
: The BCDA Chairman must submit a report to the President on the action taken once the establishment of CIAC as a subsidiary of CDC is completed.
: Executive Order No. 186 dated March 10, 2003 is repealed by EO No. 193.
: EO No. 193 took effect immediately upon its issuance on April 4, 2003.