The Philippines Board of Investments (BOI) is now accepting applications for the accreditation for companies manufacturing products that support the government’s efforts to fight the spread of the COVID-19 global pandemic.
Under the Joint Memorandum Circular (JMC) No. 2020-02 of the Department of Finance (DOF) and the Department of Trade and Industry (DTI), the government is offering incentives to accredited enterprises such as exemption from import duties, taxes, and other fees.
Four types of enterprises as defined in the JMC can apply for BOI’s accreditation. These are:
1) Manufacturers of medicine identified as critical and necessity by the Department of Health;
2) Medical equipment and devices such as helmets, masks, goggles, gloves, foot cover, face shields, gowns, and other garments or equipment to protect the user against health or safety risk;
3) Surgical equipment and supplies; and laboratory equipment and its reagents;
4) Support and maintenance for laboratory and medical equipment.
Companies producing the following products can also register the follow medical supplies, tools, and consumables with the BOI:
4) Hand soap
6) Sodium hydrochloride
7) Cleaning materials
8) Povidone iodine
Companies can also register common medicines such as:
1) Paracetamol tablet and suspension
2) Mefenamic acid
3) Vitamins tablet and suspension
4) Hyoscine tablet and suspension
5) Oral rehydration solution
6) Cetirizine tablet and suspension
Other enterprises that are covered by the JMC include suppliers of raw materials of these products; manufacturers of packaging materials; and suppliers of raw materials for packaging materials.
For full details of the accreditation process, visit http://boi.gov.ph/accreditationofmanufacturers.
To date, Department of Trade and Industry Secretary Ramon Lopez said there are about 10 companies that have re-purposed their manufacturing operations to produce the critical products needed during the Covid-19 pandemic.
“We will continue to encourage more manufacturers to produce medical products which would now be part of our basic necessities even after lifting the enhanced community quarantine,” Lopez said.