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Friday, March 29, 2024

Polloc Freeport earns P20m

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COTABATO CITY—In the first seven months of 2016, the Polloc Freeport and Ecozone based in Parang, Maguindanao, registered a record high revenue of some P20 million, a port official said.

Polloc port manager Eshan Mabang said the latest income overshot by some 33.5 percent its entire 12-month earnings of P12.6 million in 2015.

Mabang attributed the revenue rise, among other things, to “transparency, good governance and favorable peace and order   condition around the port,” which is located near the Sen. Salipada K. Pendatun military camp.

All these factors encouraged different locator companies and investors in the Autonomous Region in Muslim Mindanao to shift to Polloc for their inbound and outbound cargoes, Mabang said.

A total of 377,700.22 metric tons of inbound and outbound cargo were shifted to the port from January to July 2016, Mabang noted, adding that cargo moved last year reached 492,196.44 metric tons.

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According to Mabang, top inbound cargo included yellow corn, cement, machinery, plant equipment, iron/steel, rolling cargo and non-prime commodities, while top outbound cargo was corn starch, corn gluten feeds, corn gluten meal, corn germ, river sand, rolling cargoes, cement, plywood and heavy equipment.

Mabang said the cargo arrived on 173 domestic vessels and 15 foreign ships from Vietnam, China and Thailand, and he encouraged more firms “to locate in our port to avail of the competitive advantage it provides.”

The regional government’s Bureau of Public Information reported that ARMM Gov. Mujiv Hataman’s administration and the Bureau of Customs inked last year a memorandum of agreement   granting investors duty-free importation of identified materials and equipment.

It further announced that the MoA also allows locators and investors registered under the ARMM’s Regional Board of Investments and other tax incentives to economic investors “to enjoy duty-free importation of capital equipment, breeding stocks, generic materials, constructon materials and office equipment.”

These locators are also entitled to other tax incentives both from the regional government and local governments concerned, the MoA added.

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