Polloc Freeport revenues hit P19M as of July 2016

COTABATO CITY- The Polloc Freeport and Ecozone hit a new record high in terms of revenues when it scored a net income of almost P19 million within the first seven months of the year.The figure is 33.5% higher than its total revenues in 2015, which was only at P12.6 million.Eshan Mabang, Polloc port manager, said various inbound and outbound cargoes were shifted to the Polloc Freeport in Parang, Maguindanao because of the improved trust of the different locator companies and investors in the ARMM government. The transparency, good governance, and the peace and order condition made the investors trust more in the ARMM to import various cargoes,” he said.Mabang said the improved performance of the Polloc Freeport contributes to the increase in the overall tax and revenue collections of the ARMM's Office of the Regional Treasury (ORT).He said part of the port’s income goes to the development of its facilities.A total of 377,070.22 metric tons of inbound and outbound cargoes were shifted in the port from January to July this year. Last year's cargoes reached 492,196.44 metric tons, the highest since 2013. and//media.philstar.com/images/the-philippine-star/nation/20160322/boat-polloc-port-maguindanao.jpg (courtesy of John Unson)Top inbound cargoes include yellow corn, cement, machinery, plant equipment, iron/steel, rolling cargoes, and non-prime commodities. While top outbound cargoes include corn starch, corn gluten feeds, corn gluten meal, corn germ, river sand, rolling cargoes, cement, plywood and heavy equipment.The cargoes were imported through 173 domestic vessels and 14 foreign vessels.Mabang said the international cargo ships from Vietnam, China, and Thailand the port received this year, transported cement, heavy equipment, and yellow corn.He said they encourage more firms to locate in our port” to avail of the competitive advantage it serves.The ARMM and the Bureau of Customs has a standing agreement, which was inked in November last year, granting investors in the region duty-free importation of identified materials and equipment.It allows locators or investors registered under ARMM’s Regional Board of Investments (RBOI-ARMM) and other economic investors to enjoy duty-free importation of capital equipment, breeding stocks, generic materials, import construction materials, and office equipment. These locators are also entitled to avail of other tax incentives both from the regional government and the Local Government Units concerned.