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Formed: March 10, 1919 Jurisdiction: Government Of The Philippines Headquarters: 6, 7, & 8F, NDC Building, 116 Tordesillas, Makati, 1200 Metro Manila Website: https://www.ndc.gov.ph/

National Development Company (NDC)

The National Development Company (NDC) is one of the oldest investment arm companies owned by the Government of the Philippines. Established on March 10, 1919, via Legislative Act 2489, it is a corporation tasked with promoting and supporting industrial and economic development initiatives in the country. The NDC serves as a leading catalyst for inclusive national growth.

Contents

1. Introduction
2. History
   • Early Life
   • Modernization Era
3. Vision and Mission
4. Mandates
5. Functions
6. Organization
7. References

History

Early Life

The NDC was established on March 10,1919 under Legislative Act 2489 , which aimed to consolidate and streamline government efforts in promoting economic growth through strategic investments and partnerships in a young nation avoiding colonization. Initially called “Compania de Fomento Nacional” , the organization aimed to serve as a key instrument for national industrialization,  NDC has evolved to encompass a broader mandate that includes infrastructure development, investment management, and corporate governance. Harrison, who was governor at the time period of 1913-1920 entrusted many Filipino leaders with positions of authority in preparation for self-rule. He also envisioned preparing the company in an economic sense by allowing the government to partake in the business development of the company. The Compania de Fomento Nacional ( known as “The Company for National Promotion”), served as a semi-private corporation with the Philippine Government as their sole stockholder. Their vision was to uphold and maintain a “general production by an efficient coordination of the productive forces of the country and to secure a stable market for Philippine products”. However, in the same year the English version of its name “National Development Company” would later be used as its more popular title. The company’s first board meeting was then held on March 4, 1920 at the office of Secretary Hacienda Alberto Baretto located in Manila.

 Galiciano Apacible Venancio Concepción, I.B Dexter E.J Westerhouse and Claude Russel, directors and Miguel Unson who was the speaker for the government, Sen. Manuel Quezon and Speaker of the House Sergio Osmena all attended the very first meeting. NDC (National Development Company) was then authorized to enter any business venture except banking. Its very first subsidiary; the Cebu Portland Cement

Company (CEPOC) , was organized by the year 1920 as well. It was put into action by 1923 with an initial Capital of P5 Million. It was in 1936 that NDC was converted into a public corporation amidst the Philippine’s rise to independence. It served as an agency to the Commonwealth government to progress its economic policies. The company soon had its powers extended by the Commonwealth Act II in 1938. This granted NDC a 25-year corporate life span whilst maintaining its engagement with the development of natural resources like water, public landmines and forests. Despite huge organizational losses, NDC soon ventured into new industries to pave the way for private enterprise. In the ‘70s and ‘80s, it harnessed considerable capital and influence to grow big industries and establish regional endeavors, while funneling investments into the work of small- and medium-sized entrepreneurs.Three Philippine presidents have served on the NDC board: Sergio Osmeña, Elpidio Quirino, and Manuel Roxas.

Modernization Era

 The reorganization of NDC in 1979 enabled the company to provide capital and managerial expertise for projects and enterprises it had previously undertaken. This also realigned NDC’s strategic role towards the government’s priorities in achieving its target of industrial development.

Over the years, NDC has evolved and has succeeded in this role, as it has had a hand in establishing several companies which were at the forefront in their respective industry. Some of these are: Philippine Airlines, Philippine Electrical Manufacturing Company, National Power Corporation, Philippine Communication Satellite, Philippine National Lines, Manila Gas Corporation, National Housing Authority, Philippine Packing Corporation and Dole Philippines.

NDC lasted as a resilient organization adapting well to change and new development if demanded by the need for growth and new environment. It acknowledged the call of Proclamation 50 issued in 1986 by then President Corazon Cojuangco Aquino. NDC earned  Php 4.0 Billion from the total privatization program proceeds amounting to Php 14.0 Billion from 22 companies. The aggressive stance of President Fidel V. Ramos' privatization and industrialization was complemented by NDC ventures in the industrial estate which pioneered its development in the country. With the thrust of President Joseph E. Estrada to promote agriculture and self-sufficiency in rice production, NDC embarked on, Economic Recovery through Agricultural Productivity (ERAP) program. NDC was then empowered to generate funds through bond issuances under Executive Order (EO) No. 83 issued in 1998.

By 2003, NDC was reorganized under EO 184. This was necessary for the company to fulfill the contents of its new mandate of providing equity investment in pioneering development-oriented projects. This new approach paved the way for NDC to become a critical player on the economic team behind President Gloria Macapagal Arroyo's Medium Term Development Program of 2004-2010. NDC's integral role was defined under the program's infrastructure development, expansion of the strong republic nautical highway and alternative fuel development, while giving Filipinos greater access to health care and educational facilities, irrigation systems and other benefits.

Vision and Mission

The NDC’s vision is to enable industry development and spur local economies across the Philippines. As the country’s leading state-owned enterprise, it aims to serve as a catalyst for inclusive growth by investing in diverse industries and promoting the growth of the nation’s enterprises.

Mandates

The NDC operates under several key mandates:

• PD 1648 (Revised Charter): Mandates NDC to pursue commercial, industrial, agricultural, or mining ventures to support national economic development. The company can undertake vital projects independently or in partnership with the private sector, particularly in high-risk areas or where private resources are insufficient.
• Executive Order No. 83: Strengthens the enforcement of the Agri-Agra Law and authorizes NDC to issue bonds for rural development, totaling PHP 508 million.
• Executive Order No. 530: Expands NDC’s authority to issue bonds for economic pump-priming activities and other projects aimed at economic growth and poverty alleviation.
• Executive Order No. 824: Authorizes NDC to issue bonds for infrastructure projects.
• Executive Order No. 824-A: Amends EO 824 to include projects for the rehabilitation and reconstruction of government infrastructure damaged by typhoons "Ondoy" and "Pepeng."

Functions

The NDC is the Philippines' leading state-owned enterprise, investing in diverse industries and acting as an effective catalyst for inclusive growth. Its functions include:

• Enabling industry development and spurring local economies.
• Promoting the growth of the country’s enterprises.

Organization

Board of Directors

• Acting Sec. Ma. Christina A. Roque , Chairman , Department of Trade and Industry
• Eli M. Remolona Jr., Governor , Bangko Sentral ng Pilipinas
• Ralph Recto, Secretary , Department of Finance
• Raphael Perpetuo M. Lotilla, Secretary , Department of Energy
• Ma. Antonia Yulo-Loyzaga, Secretary , Department of Natural Resources
• Phillip L. Go, Chairman , Development Bank of The Philippines
• Usec Ceferino S. Rodolfo, Managing Head , Board of Investments

NDC Management

• Antonilio DC. Maurucio, General Manager
• Atty. Roel Z. Mabazza, Assistant General Manager, Corporate Support Group
• Saturnino H. Mejia, Assistant General Manager, Special Projects Group
• Atty. Geneflor L. Santiago, Assistant General Manager, Asset Management Group
• Alewin Aidan K. Ong, Assistant General Manager, Business Development Investment
• Leopoldo John F. Acot, Assistant General Manager, Corporate Communications Group
• Joyce Anne N. Alimon, Assistant General Manager, Funds Management Group

References

1. Agoncillo, Teodoro A. (1990). History of the Filipino People (Eighth ed.). Self-published. ISBN 971-8711-06-6.
2. Catlett, George, ed. (1947). The War Reports of General of the Army George C. Marshall, Chief of Staff, General of the Army H. H. Arnold, Commanding General, Army Air Forces [and] Fleet Admiral Ernest J. King, Commander-in-Chief, United States Fleet and Chief of Naval Operations: General of the Army H. H. Arnold ... [and ...] Lippincott.
3. National Development Company (2009). Catalyst: The Story of the National Development Center.
4. Dyquianco, Excel (2023). DTI and NDC: Empowering Startups and MSMEs for Sustainable Growth.
5. Tabora, Rhea (2023). Powering Inclusive Growth: How NDC Drives Progress for the Philippines.