Filipino First Policy

Who implemented the Pilipino Muna or (Filipino First)

Policy?
President Carlos P. Garcia. He was the first Philippine President
since independence in 1946 who tried to stand up to the Americans.
What is Filipino First Policy?
In the present Constitution, the Filipino First Policy is found in the
provisions of Article 12, Section 12, which states:
Section 12. The State shall promote the preferential use of Filipino
labor, domestic materials and locally produced goods, and adopt
measures that help make them competitive.
The policy had three main ingredients:
1. Import controls on foreign manufactured goods: By limiting imports,
domestic industry would be encouraged to supply products for
Filipinos.
2. Foreign exchange controls: By restricting foreign businesses from
taking money out of the country, more money would be available for
Filipino businesses.
3. Restriction of foreign ownership: Foreigners could only own 40% of a
business.
Why Filipino First Policy?
to provide increased government support for the development of
domestic industry.
to give local businessmen more priority over foreign investors.
The government sector would help local businessmen in entering
industry that was filled with foreign competitors and give them aid and
financial assistance.
How Filipino First policy was revoked
But under pressure, in December 1960 Garcia finally adopted
partial fiscal decontrol; in other words, foreign businesses would be
allowed to take their profits out of the country again. National elections
were coming in 1961 and he knew he would need support from the
American Government to win again.