MARAWI CITY, Lanao del Sur, Nov. 6
(PIA) --- Investors in the Autonomous Region in Muslim Mindanao (ARMM) can now
enjoy duty-free importation of identified materials and equipment following the
signing of a Joint Memorandum Order (JMO) between the Regional Economic Zone
Authority (REZA)-ARMM and the Bureau of Customs.
The JMO will allow REZA locators
or those investors registered under the region’s board of investments
(RBOI-ARMM) and other economic investors to enjoy duty-free importation of
capital equipment, breeding stocks, generic materials, import construction
materials, and office equipment.
They will also be entitled to
avail of other incentives from local taxation in close coordination with the
Local Government Units concerned.
ARMM Governor Mujiv Hataman,
Commissioner Alberto Lina, REZA-ARMM Executive Director Eshan Mabang, other
ARMM officials and some BoC district collectors attended the signing.
Mabang said “the signing of the
JMO is a historical breakthrough in the Moro people’s experience and economic
independence.”
He said the JMO will create a big
impact in both the economic and labor aspect of the ARMM for it “is envisioned
to create employment opportunity leading to improved human resource development
index.”
“It is also seen to generate micro
and even macro-economic benefits, attract domestic and foreign investors, and
will promote e-commerce,” he added.
Mabang said the REZA will
establish the Joint-REZA Customs Office (JRCO) that will be used by both
agencies to perform organizational functions, including joint conduct of
inspection and clearance area.
The REZA-ARMM is “mandated to
oversee the integration, coordination, planning and monitoring of special
economic zones, industrial estate/parks, export processing zones and other
economic zones in the region.”
Under the JMO, the REZA will
accredit, issue and approve the documentary requirements of investors in the
region and the BoC, on the other hand, shall be in-charge of the approval,
activation and validation of client profile registration system in line with
Customs Memorandum Order 39-2008.
Moreover, the BoC will set-up the
electronic-to-mobile system (e2m) for effective and efficient exportation and
importation transactions and help curb possible frauds in the agency.
The e2m system will streamline
imports and exports processing and improve trade facilitation among BOC, other
government agencies and its stakeholders anywhere, anytime through
Internet-based and wireless technologies.
Meanwhile, Governor Hataman and
Commissioner Lina lauded the REZA-ARMM for the milestone it has accomplished.
Hataman urged the BoC and other
investors to help boost ARMM’s economy. The JMO, he said, is a manifestation of
good governance in the region.
For his part, Lina said the
cooperation between the BoC and the ARMM government will contribute to progress
and prosperity in the region.(BPI/PIA-10)
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