The National Development Company (NDC), one of the oldest companies in the Philippines was established on March 10, 1919 via Legislative Act 1248. 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.