September 21, 2024 | 12:00am
MANILA, Philippines — The Board of Investments (BOI) and Bureau of Customs-Manila International Container Port (BOC-MICP) have teamed up with the country’s group of vehicle assemblers to enhance customs procedures for the importation of motor vehicle parts.
In a statement yesterday, the BOI said the investment promotion agency and the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) were welcomed as new members of the Customs Industry Consultative and Advisory Council by the BOC-MICP during a meeting held last Monday.
During the meeting, BOI Investments Assistance Center executive director Bobby Fondevilla, BOI Investment Assistance Service director Ernesto Delos Reyes Jr., BOC-MICP district collector Carmelita Talusan and CAMPI president Rommel Gutierrez discussed how to strengthen collaboration to modernize customs procedures and support the growth of the automotive industry.
“This partnership will effectively address the challenges faced by our importers and promote long-term, sustainable growth for the automotive industry in the country,” Fondevilla said.
Delos Reyes cited the importance of having a dedicated focal person from the BOC to assist investors that engage with the BOI.
“It is crucial to adopt a holistic government approach to have effective and efficient investment facilitation to sustain investments in the country,” he said.
For her part, Talusan said the BOC is committed to supporting the BOI, CAMPI and the local automotive industry.
“We are committed to providing a more efficient and transparent customs process to support the competitiveness of the automotive sector. The partnership with BOI and CAMPI is crucial in advancing the country’s economic growth,” she said.
Latest data from CAMPI and the Truck Manufacturers Association (TMA) showed that the local automotive industry’s vehicle sales picked up by 10.3 percent to 304,765 units from January to August this year from 276,215 units during the same period in 2023.
In August alone, CAMPI and TMA’s combined vehicle sales climbed by 6.6 percent to 39,155 units from 36,714 units in the same month last year.
Gutierrez said the Philippine market saw a diverse array of vehicle offerings that address various consumer needs, thanks to numerous new model releases from both established and emerging industry players.
“Additionally, there is growth in the sales of electric and hybrid vehicles effectively supported by government incentives aimed at promoting environmentally friendly transportation,” he said.
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