The National Development Company (NDC), one of the oldest companies in the Philippines was established on March 10, 1919 via Legislative Act 2489. NDC’s first name was “Compania de Fomento Nacional”.
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.
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.
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.
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.
PD 1648 (Revised Charter)
NDC is mandated to pursue commercial, industrial, agricultural or mining ventures in order to give the necessary impetus to national economic development. NDC, may on its own, or in joint venture with the private sector, undertake vital projects when necessary or when the private sector is not willing or able to undertake such projects due to high risks or to lack of funds/resources.
Executive Order No. 83
(Strengthening the Enforcement of the Agri-Agra Law and Launching of the NDC “AA” Bonds for Rural Development) – Authorized NDC to undertake the issuance of NDC Agri-Agra Bonds in the total amount of P50B for the development of the agriculture and agrarian sectors.
Executive Order No. 530
(Authorizing the NDC to Issue Bonds under Executive Order 83, Series of 1998 for the pump-priming activities and other projects of the government) – The EO strengthens NDC’s authority to issue bonds under EO 83 Series of 1998, and expanded the utilization of the bond proceeds to include the economic pump-priming activities/projects of the government-owned and controlled corporations (GOCCs) and any other projects designed for economic growth and poverty alleviation.
Executive Order No. 824
Authorizing the National Development Company (NDC) to issue Bonds for Infrastructure Projects
Executive Order No. 824-A
Amending Executive Order No. 824 authorizing the National Development Company to Issue Bonds for Infrastructure Projects to include projects for Rehabilitation and Reconstruction of Government Infrastructure Facilities damaged or destroyed by Typhoons “Ondoy” and “Pepeng“
The General Manager's 2023 Year-end Message
NDC is the Philippines' leading state-owned enterprise investing in diverse industries, serving as an effective catalyst for inclusive growth.
Enabling industry development, spurring local economies
Passion. Integrity. Commitment. Excellence. Financial Prudence
We are committed to fulfill NDC’s vital role in the over-all economic development of the country.
We advocate excellence, teamwork, and accountability to advance the interests of our stakeholders.
We will invest in our human capital as it is our most valuable resource.
We are committed to serve as a reliable partner of both public and private sectors in sustaining the country’s socio economic development efforts. To uphold this commitment, we shall:
Continously invest in strategic priority areas that will sustain our fund generation activities;
Practice prudence in handling corporate resources to warrant maximum public impact;
Establish mechanisms and procedures that reinforces learning, continual improvement and risk-based thinking;
Ensure business plan continuity, responsiveness and transparency in accordance with NDC’s code of corporate governance;
Advocate excellence, accountability, and teamwork to advance the interest of our stakeholders; and;
Invest in our human capital as it is our most valuable resource