The Bureau of Customs (BOC) and the Subic Bay Metropolitan Authority (SBMA) have signed a memorandum of agreement (MOA) granting the BOC a 25-year rent-free tenure in the Subic Bay Freeport Zone.
The agreement aims to optimize customs operations, attract investments, and enhance strategic oversight in the zone.
BOC Commissioner Bienvenido Rubio expressed confidence that the partnership would boost trade, investment, and government revenue.
Under the MOA, the BOC is responsible for maintaining its facilities and complying with environmental standards, while SBMA will ensure access to essential properties for customs functions.
The collaboration also focuses on developing a modern Port of Subic (POS) building, which will enhance services and provide greater convenience for stakeholders.
CUSTOMS BUREAU SIGNS 25-YEAR RENT-FREE AGREEMENT WITH SBMA
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