Bureau of Customs (BoC) Commissioner Isidro Lapeña recently revealed that the World Bank’s Philippine Customs and Trade Facilitation Project aims to support export-led economic growth by assisting the bureau in reducing trade costs, improve transparency and increase revenue collection.
The estimated cost of this project is P8 billion.
The BoC last month completed and submitted all the requirements for its World Bank loan to modernize and automate the Customs agency system and improve the flow of trading in the country.
Meanwhile, XLOG, a homegrown online platform that is also the world’s first fully-integrated, blockchain-based, end-to-end shipping and logistics platform, is being offered by Shiptek Solutions founder and CEO Eugenio Ynion Jr. to the BoC for free.
Said platform aims to solve all logistics challenges by simplifying processes, improving tracking and security and easing transaction documentation.
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According to Ynion, XLOG has a built-in security feature that will make smuggling impossible.
XLOG, he said. does not allow fictitious identities, addresses and businesses as practiced by smugglers in cahoots with corrupt BoC men.
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