ABSTRACT
The National Development Company, established in 1919, received powers to engage in commercial, industrial, mining, agricultural and other enterprises; to hold public agricultural and mineral lands; to purchase, pledge or otherwise dispose of stocks, bonds and securities of other corporations; to guarantee the bonds of other companies, and finance industrial and trading concerns; to organise subsidiary companies under its own control; and to exercise powers of eminent domain for public utilities and services. In theory, since 1942 it has been subject, in respect of its planning functions, to the inter-ministerial National Economic Council created in that year, and to the various successors of this body emanating from rather frequent governmental reorganisations. In the field of industrial development, it has concentrated its efforts on electricity, petroleum, coal, metals, chemicals, cement, rubber, textiles, ceramics and glass.
