September 7, 2023, Figaro Innovation and Development, Inc. (FIDI), a wholly-owned subsidiary of Figaro Coffee System, Inc. (FCSI), which is in turn the operating subsidiary of Figaro Coffee Group, Inc. (FCG), is pleased to announce its receipt of Certification of Registration No. 2023-000126-PEZA-EX-C10-1 from the Philippines Economic Zone Authority (PEZA). This certification, issued in accordance with PEZA’s charter and Title XIII of the National Internal Revenue Code of 1997 (as amended by Republic Act no. 11534, known as the Corporate Recovery and Tax Incentives for Enterprises or CREATE act), officially recognizes FIDI’s registration with PEZA.

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 located at 116 East Main Avenue Phase V, Laguna Technopark-Special Zone (LT-SEZ), Binan City, Laguna.

The primary mission of FIDI is to drive innovation in the Food and Beverage (F&B) 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.

As a registered entity, FIDI is entitled to a range of incentives, including:
 Income tax holiday for five (5) years
 Special corporate income tax for ten (10) years
 Duty exemption for fifteen (15) years
 VAT exemption and zero rating for fifteen (15) years

The formal signing and turnover of the Certification of Registration took place at the PEZA headquarters, located in the Double Dragon West Tower, Pasay City. The event was attended by prominent figures, including Mr. Tereso O. Panga, PEZA Director General; Atty. Jenny June G. Romero, PEZA OIC Deputy Director General; Ms. Divina Gracia G. Cabuloy, President/CEO of FCG; Mr. Jose Petronio D. Espanol III, President of FIDI; and Mr. Ace Azarraga, FCG Brand and Partnership Director.

With its PEZA registration and associated incentives, FIDI is poised to make significant contributions to the coffee industry and to the broader economic landscape in the Philippines.