CEBU

Neda ICC-CabCom approves Customs modernization project

THE National Economic and Development Authority (Neda) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved the Philippine Customs Modernization Project on Friday, March 6, 2020.

The project aims to improve the Bureau of Customs’ efficiency, effectiveness and transparency by streamlining and upgrading systems, procedures and operational activities with the use of information and communications technology consistent with international standards.

The proposed project has a total cost of P5.5 billion, of which P4.61 billion will be funded through Official Development Assistance.

“We hope to see improvements in the quality of government transactions and delivery of services. This project aims to simplify and harmonize customs procedures to conform to international standards and facilitate trade,” said Socioeconomic Planning Secretary Ernesto Pernia.

The project supports the implementation of Republic Act 10863 or the Customs Modernization and Tariff Act and other internationally agreed customs standards with the World Trade Organization and World Customs Organization.

Pernia also emphasized that the project is in line with the Philippine Development Plan 2017-2022, which puts importance on simplifying government transactions, enhancing trade facilitation and strengthening linkages and connectivity, respectively. (PR)


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