Daily News

NEDA Board OKs Customs modernization

The National Economic and Development Authority (NEDA) Board chaired by President Rodrigo Duterte has given its go-ahead to modernize and automate processes at the Bureau of Customs (BOC). NEDA Undersecretary Jonathan Uy said the board’s approval of the P5.4-billion Philippine Customs Modernization Project was secured last May 13. BOC Commissioner Rey Guerrero said that the BOC was “hoping to have the project started soon,” although they were still awaiting approval of the World Bank loan. The World Bank financing will account for 85% of project cost, while the remainder will come from counterpart government funds.