Figaro Innovation and Development Inc. received its certification of registration from the Philippines Economic Zone Authority.
FIDI has been designated as an ecozone export enterprise authorized to engage in the production of various roasted coffee blends, including House Reserve, Espresso Blend and French Roast.
These operations will be based at the company’s facility at 116 East Main Avenue Phase V, Laguna Technopark-Special Zone in Binan City, Laguna.
As a registered entity, FIDI is entitled to a range of incentives, including income tax holiday for five years, special corporate income tax for 10 years, duty exemption for 15 years and VAT exemption and zero rating for 15 years
FIDI is a wholly-owned subsidiary of Figaro Coffee System Inc., the operating subsidiary of Figaro Coffee Group Inc.
The primary mission of FIDI is to drive innovation in the food and beverage industry by developing pioneering products and processes. Their aim is to enhance operational efficiency for their clients while also promoting Filipino brands, products, and raw materials on a global scale.
FIDI said it is poised to make significant contributions to the coffee industry and to the broader economic landscape in the Philippines with its PEZA registration and associated incentives.