Under President Carlos P. Garcia introduced the Filipino First policy. The policy of Garcia, was a response to the impact of
free trade and American economic dominance in the Philippines for years following the
World War II. It is meant to assert greater Filipino role over the country's economy if not to gain control of it by promoting "Filipino business establishment". Garcia first instituted the policy with the issuance of Resolution No. 202 of the National Economic Council on August 28, 1958. The policy dictates that Filipinos would have preference over non-Filipinos in receiving
foreign exchange. In line with the policy, Garcia pledged that his administration would assist Filipino entrepreneurs to make ventures in industries dominated by non-Filipinos. The policy received positive reception from Filipino businessmen, ==References==