Section 1December 9, 1992, Sec./Art. 1

Declaration of Policy. – It is the policy of the State to formulate after consultations with appropriate public agencies, the private sector, and local government units socioeconomic development programs taking into account the requirements of conservation and ecology and in accordance with its constitutional mandate to promote a more equitable distribution of opportunities, income, and wealth; a sustained increase in the amount of goods and services produced by the nation for the benefit of the people; an expanding productivity as the key to raising the quality of life for all, especially the under privileged.

The State shall promote industrialization and full employment based on sound agricultural development and agrarian reform, through industries that make full and efficient use of human and natural resources, and which are competitive in both domestic and foreign markets. However, the State shall protect Filipino enterprises against unfair foreign competition and trade practices.

The Legislative-Executive Development Advisory Council shall constitute an effective advisory and consultative mechanism to ensure consistency in coordinating executive development planning and congressional budgeting.