OUR VISION – DIGITALISING TRADE
A single platform CCH – CUSTOMS CLEARING HOUSE
enables an ASEAN Regional Centralized Trade Compliance and operation for Customs
HAKOVO provides an international digital platform simplifying cross-border trade. Our investors are led by Singapore’s PSA International – one of the largest Port operators in the world (CVC – PSA unboXed), Enterprise Singapore – the Singapore Government agency championing enterprise development, and Indonesia’s SinarMas Group – one of the largest conglomerates in Indonesia.
We digitally connect the world with ASEAN – the 12 members Association of South East Asian countries. This is made possible through our close collaboration with the ASEAN Single Window and National Single Windows of key ASEAN member states.
The HAKOVO international digital platform – the uNIFIED CUSTOMS CLEARING HOUSE (uCCH) – enables an ASEAN+ Regional Centralized Trade Compliance and Operations for Customs. It is the first uCCH platform focused for ASEAN+ trade. As of March 2020, uCCH connects and enables data exchanges for import / export operations for China (September 2018), Singapore (September 2018) and Indonesia (June 2019). Work is ongoing to add Thailand and Japan into the uCCH network.
The objective is to simplify IMPORT CUSTOMS Declarations and Compliance. We also provide inland transportation services as a digital forwarder and an eMarketplace for International sea freight. We do this because global businesses believe further ASEAN economic integration will be important to their businesses.
In a 2019 survey by the EU-ASEAN Business Council, businesses highlighted that they still faced critical issues importing into ASEAN:
- Only 12% felt that ASEAN has achieved its aim of a “single market and production base”;
- 54% felt that the ASEAN Economic Community (AEC) process was too slow;
- Only 42% felt that ASEAN economic integration had made a positive impact on their businesses; and
- 67% felt not satisfied with the import processes into ASEAN.
There were just too many barriers in terms of cross border management such as customs clearance, regulations, traditional document management and processes. But, as mentioned earlier, the same survey stated 85% believed further ASEAN economic integration will be important to their businesses.
Read more of how HAKOVO can enable that via our solutions here.