Economic Complementarities of Central East Asia Region
- Identifies the Philippines (North Luzon), China, Hong Kong, Japan, South Korea, and Taiwan as the economic heartland of Asia.
- Highlights resource complementarities: capital and advanced technology in Japan, South Korea, Hong Kong, and Taiwan; a huge market in China; and rich natural and human resources in the Philippines.
- Advocates harnessing these complementarities by activating a regional economic cooperation bloc.
Objectives of the Central East Asia Growth Circle
- To convert the region into an economic powerhouse.
- Increase trade and investments through an improved business climate.
- Ultimately create new jobs and livelihood opportunities for ordinary Filipinos.
Preparation of North Luzon for Economic Integration
- The national government has prepared the four administrative regions north of the National Capital Region (Regions 1, 2, 3, and the Cordillera Administrative Region) for global economic competition via economic integration.
Establishment of Central East Asia Growth Circle Program (CEA-GC)
- Creation of the CEA-GC under the Office of the President to promote economic cooperation within the designated South China Sea area.
Implementation Strategy of CEA-GC
- Employ a phased progression strategy.
- Focus on establishing economic cooperation and culminate in a multilateral economic cooperation agreement among member countries.
Appointment and Functions of the Presidential Action Officer for CEA-GC (PAO-CEAGC)
- Appointed by the President with the rank of undersecretary.
- Key duties include:
- Promoting foreign investments, trade, and tourism in North Luzon.
- Coordinating activities of departments, RDCs, and government agencies.
- Mobilizing private sector participation.
- Preparing economic and feasibility studies.
- Advocating national policies in key areas such as banking, transport, tourism, environment, education, and technology.
- Negotiating for sources of funds including Overseas Development Assistance.
- Providing planning, management, and technical assistance to investors.
- Receiving and administering donations and grants.
- Exercising administrative and technical supervision over the program.
- Appointing officers and staff of the program secretariat.
- Submitting quarterly reports to the President.
Creation and Role of the Advisory Council
- Advises the PAO-CEAGC on various program aspects.
- Ensures alignment of the program's goals and policies with national development goals.
- Ensures consistency with regional and local development plans.
Composition of the Advisory Council
- Chaired by the Executive Secretary.
- Includes Secretaries from various departments (Trade and Industry, Socio-Economic Planning, Tourism, Foreign Affairs, Transportation and Communications, Agriculture).
- Includes Presidential Assistant for North Luzon, Presidential Adviser for Development Administration.
- Representatives from Regional Development Councils.
- Private sector representatives from the four North Luzon regions.
- Congressional representatives, Governors, and City Mayors from North Luzon regions.
- Heads of government corporations and commissions based in North Luzon.
- Provision to expand the Council’s composition as needed.
Establishment of the CEA-GC Program Office
- Program Office constituted to assist PAO-CEAGC.
- Headed by a Program Director appointed by the President upon recommendation.
- Technical and administrative staff from various government agencies may be detailed or seconded as necessary.
Roles of National and Local Agencies and Private Sector
- National line agencies, local government units, government corporations, NGOs, and the private sector serve as implementing entities.
- Activities include trade/investment/tourism fairs and missions, business forums, technical meetings, and senior officials’ meetings.
Funding Provisions
- Initial funding of P18,166,833.05 from the Presidential Contingent Fund for organizational and operational expenses from September to December 1999.
- Additional budgets for 2000 and beyond sourced from the Presidential Contingent Fund or other funds of the Office of the President.
- Future operations to be included in the annual General Appropriations Bill submitted to Congress.
Authority to Issue Implementing Rules and Regulations
- The PAO-CEAGC is empowered to promulgate necessary rules and regulations to implement the Executive Order.
Effectivity and Superseding Provisions
- The Executive Order takes effect immediately upon signing.
- Existing executive orders, rules, and regulations inconsistent with this order are superseded.