Section 2August 8, 1991, Sec./Art. 2

Declaration of Policy. – It is hereby declared a policy of the State to promote industrialization through the immediate establishment of an integrated iron and steel industry that makes full and efficient use of the country's human and natural resources taking into consideration its critical impact on employment, indigenous resources utilization, foreign exchange and balance of payments position. The State shall provide impetus to the growth, promotion, and development of the iron and steel industry as the springboard and basis for launching Philippine industrialization.