DAVAO CITY—Malacañang extended for another five years the tax exemption granted to travelers going to any focus areas of BIMP-Eaga using Mindanao and Palawan gateways.
Bimp-Eaga refers to the Brunei Darussalam-Indonesia-Malaysia Philippines East Asean (Association of Southeast Asian Nations) Growth Area, “a cooperation initiative by the four BIMP-Eaga nations to accelerate economic development in areas that are geographically distant from their national capitals, yet in strategic proximity to each other,” according to the Asian Development Bank.
Groups immediately welcomed the move, coming seven months later when the previous five-year exemption expired in October last year.
The Mindanao Development Authority (MinDA), government’s socioeconomic planning unit for Mindanao, said it reaffirmed government commitment to the subregional cooperation.
The MinDA said President Duterte signed this week the memorandum order exempting all passengers originating from Mindanao and Palawan, “by air and/or sea, originating from all international ports in Mindanao and Palawan to any destination within the BIMP-Eaga, from paying an exit travel tax in the next five years.”