In a series of initiatives to improve seamless investment facilitation, the Philippine Board of Investments (BOI), together with the Bureau of Customs (BOC), conducted recently (June 2, 2022) an awareness seminar on Customs Common Bonded Warehouses (CBWs).

CBW, which has been piquing the interest of traders, particularly exporters, is a warehouse authorized or licensed by the BOC to import, receive, and store – without payment of duties and taxes and under bond – goods, raw materials, accessories, and packing materials either for manufacture into finished products for export or storage for the account of accredited end-users or clients.

BOI Executive Director for Investment Assistance and Facilitation Bobby Fondevilla said the seminar was a great opportunity, noting that the BOI was receiving queries and concerns from its stakeholders regarding the CBWs.

BOLSTERING SEAMLESS TRANSACTION: The Philippine Board of Investments (BOI) and the Bureau of Customs (BOC) held recently (June 2, 2022) an awareness seminar on Customs Common Bonded Warehouses (CBWs) to improve fast facilitation of investments in the country. (First row, seated; L-R) DTI-BIS Division Chief Carmelo Nicolas; Mr. Herminio Rommel Versoza III, BOC’s Customs Operations Officer IV; Engr. Ely Condat, Chief, BOC’s Warehousing Documentation and Records Division; Executive Director Bobby Fondevilla, BOI’s Investment Assistance Service (IAS), Atty. Liza Sebastian, Deputy Collector for Operations for Port of Manila, Dir. Ernesto C. Delos Reyes Jr. of the BOI IAS; and IAS-ASD Acting Division Chief Lubin R. De Vera Jr.

“As part of the BOI initiative on investments promotion, we have partnered with the Bureau of Customs to disseminate and explain these very important issuances and regulations concerning the CBWs,” the BOI official said.

The establishment, accreditation, and operations of CBWs are part of the extensive coordination and cooperation of the BOI and the BOC. With the seminar, the BOI wanted to raise awareness among the clients and stakeholders regarding the rules and regulations on the operations of CBWs.

“Let us maximize this opportunity to get clarifications and explanations on these issuances. This will help you continue operating your businesses,” the Executive Director said. Additionally, he expressed his optimism that more joint efforts between the BOI and the BOC will be conducted soon “to promote efficient delivery of services by government in general.”

Atty. Maria Liza Sebastian, Deputy Collector for Operations of the BOC, explained the Customs Administrative Order 01-2022, which provides for the establishment and operation of the guidelines, supervision, and control of CBWs. The said order also protects revenue through the institution of safeguard and control measures over CBWs. Further, it also defines the rights and corresponding obligations of operators of CBWs accredited sub-contractors and members.

Another lecturer was Engr. Ely Condat, Chief of the BOC, Port of Manila’s Warehousing Documentation and Records Division, discussed the Customs Memorandum Order 03-2022, which provides for the implementing rules and regulations of the Customs Administrative Order 01-2022.

Meanwhile, Atty. Florante Macarilay, Chief of the Warehousing Assessment Division of the BOC, Ports of Manila talked about the proposed CAO for Customs Facilities and Warehouses (CFWs). According to the BOC official, all goods, regardless of whether they are liable to duties and taxes, shall be subject to customs control to ensure compliance with customs laws, rules, and regulations.

The seminar was part of the objectives of the Investments Promotion Units Network (IPUNet) on investment facilitation, aiming to provide fast investment facilitation and ease of doing business through a whole-of-government approach.

Since 2007, the IPUNet has been committed to sustaining the government efforts in facilitating issues and concerns with immediate actions, streamlining procedures, and having seamless coordination among its members to address all investment-related transactions.

Furthermore, the said seminar was made possible by the BOI’s Investments Assistance Service (BOI-IAS) as part of its programs and initiatives on the quick facilitation of issues and concerns of investors and stakeholders. It was attended by the representatives of BOI-Registered Export Entities, exporters from industry associations, and account officers of the BOI. END