EXECUTIVE ORDER NO. 516

: It repeals Section 5 of Executive Order No. 504 (s. 2006), which mandated the Secretary of Trade and Industry to exercise policy oversight over the BCDA.
: The BCDA is reverted to the Office of the President.
: Before EO No. 516, the Secretary of Trade and Industry had policy oversight over the BCDA as mandated by EO No. 504 (s. 2006) Section 5.
: Being under the Office of the President places the BCDA directly under the highest executive authority, potentially increasing its autonomy, priority, and strategic alignment with national policies.
: It was signed on March 24, 2006.
: Eduardo R. Ermita signed the Executive Order as the Executive Secretary, acting on behalf of the President.
: The BCDA is a government agency tasked primarily with transforming former military bases into productive civilian areas to stimulate economic growth and development.