The Bureau of Customs (BOC), led by Commissioner Ariel Nepomuceno, took part in the ADB: BOC-Invited Business Support Seminar hosted by the Korea Trade-Investment Promotion Agency, where the agency underscored its continuing efforts to enhance trade facilitation and strengthen partnerships with the international business community, particularly Korean investors.
In his presentation, Nepomuceno highlighted the BOC’s ongoing reforms aimed at improving the ease of doing business in the Philippines, including streamlined customs procedures, digitalization initiatives, and strengthened stakeholder engagement.
The seminar also served as a platform to discuss key areas relevant to foreign enterprises such as customs and clearance processes, procurement policies, corporate finance and foreign exchange, as well as labor and taxation regulations—providing participants with a comprehensive understanding of the Philippine business and regulatory environment.
“Korea remains one of the Philippines’ largest sources of investments.”
The event further emphasized the longstanding and growing economic partnership between the Philippines and the Republic of Korea. In his message, Lee Sang-Hwa, Ambassador of the Embassy of the Republic of Korea, underscored the importance of deepening trade and investment relations between the two countries. The ambassador noted that Korea remains one of the Philippines’ largest sources of investments and reaffirmed the strong interest of Korean companies in expanding their presence in the country, reflecting continued confidence in the Philippine market.
Discussions during the seminar highlighted the significance of fostering transparency, efficiency, and regulatory clarity to support foreign investors and promote sustainable economic growth. By equipping businesses with essential knowledge on compliance and operational requirements, the initiative reinforces the Philippines’ position as an attractive investment destination in the region.
Nepomuceno also emphasized the BOC’s commitment to serving as a reliable partner to Korean enterprises, “It’s my job to make sure that we will have a good understanding on how we can help each other, how BOC will be your partner, not your problem,” assuring them of the agency’s support in facilitating legitimate trade and addressing any concerns that may arise in the course of their operations.
“The stronger the businesses are, the more jobs will be created for Filipinos.”
The customs chief further explained how the agency will strengthen modernization, ease of doing business, and stakeholder engagement, stating: “By pursuing the three programs that I’ve mentioned, we are confident that we will be able to help businesses. The stronger the businesses are, the more jobs will be created for Filipinos, more duties and taxes that we will be able to collect, and that we will be able to use for our government operations and programs for our communities.”
The event was attended by representatives from 33 major Korean companies, further strengthening collaboration and dialogue between government and the international private sector.
