SUBIC BAY FREEPORT — The Subic Bay Metropolitan Authority (SBMA) will continue to institute good governance measures and policy reforms to build a better business climate in this premier free port.
SBMA chairman and administrator Wilma Eisma on Wednesday said aside from stressing the need for a consistent implementation of laws and policies governing investors in the Subic Bay Freeport, the agency is streamlining its permitting system in anticipation of greater investment yields here.
“We have just established a One-Stop Shop where business processes are fully automated, and next month we will put into effect the three-year validity for both the Certificate of Registration (CR) and the Certificate of Registration and Tax Exemption (CRTE), which previously had to be renewed annually,” she said.
Eisma said her office has taken over the approval and release of CRTEs to further speed up the issuance of the business document.
As a result of these initiatives, Eisma said business processing time has been greatly reduced as of last year by 17 percent for admission permits, by 22 percent for declaration of admission, and by 83 percent for export declaration.
She said the SBMA also waived the USD200 accreditation fee for all port-related businesses from October to December last year 2017, as part of its open-window access initiative.
The same offer has been revived effective April to December this year to entice more businesses at the Port of Subic.
“We have made life easier for our locators, and we continue to strive towards this goal,” Eisma said.
She also pointed out that the SBMA Board of Directors had already approved the reduction of documentary requirements for issuance of business registration, and at the same time allowed the off-site processing of SBMA identification documents to better serve investor needs.
“SBMA is working towards continuous improvement of its system, and we will implement necessary changes as long as they would not be disadvantageous to the SBMA and the government,” she said.
Eisma further said the drive for a more investor-friendly climate in Subic is in line with President Rodrigo Duterte’s order to promote transparency and good governance.
“Our primary thrust now is to improve our business processes because we want to be responsive to the needs of our locators,” she added. (PNA)
