LETTER OF INSTRUCTIONS No. 1398, April 12, 1984
LETTER OF INSTRUCTIONS No. 1398, April 12, 1984
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The Minister of Finance, The Governor, Central Bank of the Philippines
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WHEREAS, in line with efforts to improve the balance of payments situation, Letter of Instructions No. 1367 dated November 25, 1983 suspended applications for the importation of liquors and wines;
WHEREAS, foreign investment in the form of raw materials, supplies, spare parts or other importations in a domestic company in an essential industry may be allowed by the Central Bank;
WHEREAS, importation of liquors and wines to be contributed as foreign equity investment in a registered export enterprise will not involve any foreign exchange outflow and will have very limited application;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby amend paragraph 1 (c) of Letter of Instructions No. 1367 dated November 25, 1983, to read as follows:
Done in the City of Manila, this 12th day of April in the year of Our Lord, nineteen hundred and eighty-four
President Republic of the Philippines