Republic Acts1 min read
Section 2Sec./Art. 2
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Declaration of Policy. The State recognizes the vital role of government-owned or -controlled corporations (GOCCs) in social and economic development. Thus, it is hereby declared the policy of the State to authorize the creation of GOCCs that may be used to implement certain programs of local government units (LGUs) without violating their autonomy. The GOCCs may also assist LGUs in providing their constituents access to socialized housing, health, education and the other basic services. Towards this end, the State shall allow LGUs, with their available resources, to venture with GOCCs to accomplish the purpose of this Act.
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