Government Agency — Transparency Portal

Institutional Identity

Transparency Seal — Institutional Identity & Corporate Structure

National Development Company

NDC

Est. March 10, 1919

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Legal: Legislative Act No. 2849 - An Act Creating the National Development Company and Presidential Decree No. 1648 Reorganizing the National Development Company

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The National Development Company (NDC), one of the oldest companies in the Philippines, was established on March 10, 1919, through Legislative Act 2849 as a semi-private corporation with the Philippine Government as the sole shareholder. NDC’s first name was “Compania de Fomento Nacional”. On November 30, 1936, NDC was made a state-owned company through Commonwealth Act 182 which also gave its present name. It was mandated to function as the government’s investment arm. From its establishment until the 1970s, NDC developed, financed, and implemented pioneering projects vital to the sustainability of the government’s structural reforms and economic policies. These projects involved shipping, an airline, agricultural production, cement, housing, textiles, warehousing, gas, satellite communication, and coal mining. NDC also leased its areas in Cotabato and Bukidnon for pineapple plantations. In 1975, NDC acquired 60 percent ownership of 5 realty companies with the expiration of the Laurel-Langley Agreement. These realty companies were in joint ventures with multinational companies. To further promote overall economic development, NDC’s Charter was revised through Presidential Decree (PD) No. 1648 issued on October 25, 1979. NDC thus embarked on investments in major industrial projects such as steel, copper smelting, and phosphate fertilizer manufacturing and agricultural investments and/or financing in oil palm plantations, mining, construction, shipping, and logistics among others.

Milestones

1919The NDC, one of the oldest companies in the Philippines was established on March 10, 1919 via Legislative Act 2849. NDC’s first name was “Compania de Fomento Nacional”.

1936On November 30, 1936, NDC was made a state-owned company via Commonwealth Act 182 which also gave its present name. It was mandated to function as the government’s investment arm. NDC has developed, financed and implemented pioneering projects vital to the sustainability of the government’s structural reforms and economic policies.

1950In the ‘50s and ‘60s , despite huge organizational losses, it 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.

1970The reorganization of NDC in 1979 (NDC revised charter, PD 1648) enabled the company to provide capital and managerial expertise for projects and enterprises it has undertaken. This also realigned NDC’s strategic role to the government’s priorities in achieving its target of industrial development.

1975In the context of Philippine economic history, the NDC has remained a constant force, initiating ventures, facilitating cooperation, and ensuring a continuity in stewardship for whatever it has started. It was, and remains, a vital link in the machinery, allowing bigger and more powerful entities to interact and make a difference. It may be a modest link, but through its unifying function, it has helped consolidate efforts and resources for outcomes that have changed lives, proving that the whole can indeed be greater than the sum of its parts.

Milestones

1919

The NDC, one of the oldest companies in the Philippines was established on March 10, 1919 via Legislative Act 2849. NDC’s first name was “Compania de Fomento Nacional”.

1936

On November 30, 1936, NDC was made a state-owned company via Commonwealth Act 182 which also gave its present name. It was mandated to function as the government’s investment arm. NDC has developed, financed and implemented pioneering projects vital to the sustainability of the government’s structural reforms and economic policies.

1950

In the ‘50s and ‘60s , despite huge organizational losses, it 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.

1970

The reorganization of NDC in 1979 (NDC revised charter, PD 1648) enabled the company to provide capital and managerial expertise for projects and enterprises it has undertaken. This also realigned NDC’s strategic role to the government’s priorities in achieving its target of industrial development.

1975

In the context of Philippine economic history, the NDC has remained a constant force, initiating ventures, facilitating cooperation, and ensuring a continuity in stewardship for whatever it has started. It was, and remains, a vital link in the machinery, allowing bigger and more powerful entities to interact and make a difference. It may be a modest link, but through its unifying function, it has helped consolidate efforts and resources for outcomes that have changed lives, proving that the whole can indeed be greater than the sum of its parts.