MANILA —The National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved the Philippine Customs Modernization Project.
The project approved on March 6 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 (ICT) consistent with international standards.
The proposed project has a total cost of PHP5.5 billion, of which PHP4.61 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,” Socioeconomic Planning Secretary Ernesto Pernia said in a statement.
The project supports the implementation of Republic Act 10863, or the Customs Modernization and Tariff Act (CMTA), and other internationally agreed customs standards with the World Trade Organization (WTO) and World Customs Organization.
Pernia said the project is in line with Chapters 5 and 15 of the Philippine Development Plan 2017-2022, which puts importance on simplifying government transactions, enhancing trade facilitation, and strengthening linkages and connectivity, respectively. (PR)
