NINETEENTH CONGRESS 
) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
) 
HOUSE OF REPRESENTATIVES 
Introduced by Representative Rufus B. Rodriguez 
House Bill No.  _____ 
EXPLANATORY NOTE 
It is the policy of the State to encourage, promote and sustain the economic and social 
growth of the country. One way of achieving this goal is the provision of well-planned areas 
with the appropriate infrastructure facilities.  It is also the policy of the State to harness the full 
potentials and capabilities of veterans and AFP retirees so that they could participate fully in 
the enhancement of the economic development of the country.  Hence, Philippine Veterans 
Investment Development Company (PHIVIDEC) was created by Presidential Decree No. 243 
for the purpose of pooling the economic resource potentials of these veterans and retirees. 
Furthermore, it is also the policy of the State to give representation to the local government 
units where economic enterprises are located.  LGUs should be part of the policy-making body 
of the enterprise so that the interests of the local communities will be protected. 
Under Presidential Decree No. 243, as amended by Presidential Decree No. 353, and 
further amended by Presidential Decree No. 918, PHIVIDEC shall be governed and its 
activities shall be directed, controlled and managed by a Board of Directors which shall be 
composed of seven members to be appointed by the President of the Philippines from a list of 
nominees who should preferably be qualified veterans and retirees in good standing to be 
submitted by the Secretary of National Defense.  
The first areas developed by PHIVIDEC are those located in the municipalities of 
Tagoloan and Villanueva in the Province of Misamis Oriental.  Being the pilot areas, the 
composition of the Board of Directors of the PHIVIDEC should include representatives from 
their respective Local Government Units to fully achieve the objectives of PHIVIDEC. Hence, 
this bill. 
In view of the foregoing, the passage of this bill is earnestly sought. 
 RUFUS B. RODRIGUEZ 
November 11, 2022
4:53 pm
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NINETEENTH CONGRESS  
) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session  
 
) 
HOUSE OF REPRESENTATIVES 
Introduced by Representative Rufus B. Rodriguez 
House Bill No.  _____ 
AN ACT 
ADDING TWO (2) REPRESENTATIVES FROM THE LOCAL GOVERNMENT UNITS OF 
THE MUNICIPALITIES OF VILLANUEVA AND TAGOLOAN IN MISAMIS ORIENTAL AS 
MEMBERS OF BOARD OF DIRECTORS OF THE PHILIPPINE VETERANS INVESTMENT 
DEVELOPMENT COMPANY (PHIVIDEC) INDUSTRIAL AUTHORITY, AMENDING FOR 
THE PURPOSE AMENDING PRESIDENTIAL DECREE NO. 538, CREATING THE 
PHIVIDEC INDUSTRIAL AUTHORITY AS AMENDED BY EXECUTIVE ORDER NO. 1031 
Section 1. Declaration of Policy – It is the policy of the State to encourage, promote and 
sustain the economic and social growth of the country through the provision of well-planned 
areas with the appropriate infrastructure facilities.  It is also the policy of the State to harness 
the full potentials and capabilities of veterans and Armed Forces of the Philippines retirees so 
that they could participate fully in the enhancement of the economic development of the 
country.  Furthermore, it is also the policy of the State to give representation to the local 
government units where economic enterprises are located.   
SEC. 2. 
Amendment – Section 6 of Presidential Decree No. 538, as amended by 
Executive Order No. 1031 is hereby further amended to read as follows: 
"SEC. 6. Exercise of Corporate Powers. – The affairs and business of 
the Authority shall be directed, and its properties managed, controlled and 
preserved, by [a] THE Board of Directors, hereinafter referred to as the Board, 
which shall be composed of the following: the [Minister] SECRETARY of 
Finance or his duly designated representative as ex-officio member, the 
[Minister] SECRETARY of Trade and Industry or his duly designated 
representative as ex officio member and [seven (7)] NINE (9) other members 
to be appointed by the President of the Philippines upon the recommendation 
of the [Minister] SECRETARY of National Defense, for a term of three (3) 
years, SEVEN OF WHOM SHALL COME from among qualified veterans and 
retirees of good standing [,] OR their dependents AND TWO MEMBERS, 
ONE REPRESENTING THE MUNICIPALITY OF TAGOLOAN AND 
ANOTHER REPRESENTING THE MUNICIPALITY OF VILLANUEVA, 
BOTH IN MISAMIS ORIENTAL AS NOMINATED BY THEIR RESPECTIVE 
SANGGUNIANG BAYAN [, or persons who are in active military service]: 
Provided, That no person shall be appointed member of the Board, unless he 
is of unquestioned integrity and has experience and expertise in finance, 
management, economics, law or government administration. Should there be 
any vacancy by reason of death, permanent incapacity, removal or 
resignation of nay appointive member, the person appointed to fill the vacancy 
shall serve only for the unexpired portion of the term of his predecessor. 
“The President of the Philippines shall designate the Chairman of the 
Board from among the appointive members. In case of absence or temporary 
incapacity of the Chairman, the Vice-Chairman shall act as Chairman. In case 
of absence or temporary incapacity of the Chairman and the Vice-Chairman, 
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the Board by a majority vote, shall designate an acting Chairman from among 
its members. 
“The chief executive officer of the Authority and ex-officio Vice-
Chairman of the Board shall be the Administrator appointed by the President 
of the Philippines from among the members of the Board. The Board shall 
determine the other executives and officers of the Authority. 
“The Board shall meet regularly at least once a month, and as often 
as the exigencies demand. The presence of at least [five (5)] SIX (6) 
members shall constitute a quorum, and the majority vote of the members 
present,  there being a quorum, shall be necessary for the adoption of any 
resolution, decision, rule, regulation, or any act of the Board. 
“For every meeting actually attended, each member of the Board shall 
receive a per diem of [P300.00] FIVE THOUSAND PESOS (P5,000), unless 
the board shall fix a higher amount therefore.” 
 
SEC. 3. Separability Clause. – If, for any reason, any section or provision of this Act is declared 
unconstitutional or invalid, the other sections or provisions hereof which are not affected 
thereby shall continue to be in full force and effect. 
 
SEC. 4.   Repealing Clause. – All laws, orders, issuances, rules and regulations or parts 
thereof inconsistent with this Act are hereby repealed or modified accordingly. 
 
SEC. 5.   Effectivity.  – This Act shall take effect fifteen (15) days after its complete publication 
in at least two (2) newspapers of general circulation. 
 
Approved,