THE DAVAO City Investments and Promotion Center (DCIPC) registered P2.365 billion in approved local incentives for a global food company, the Monde Nissin Corporation.
In a statement posted on DCIPC’s Facebook post, the Davao City Investment Incentive Board has approved the company’s application after a thorough examination on Sept. 19.
“The corporation has an existing manufacturing plant in Davao City and is investing PHP 2.365 billion to add a bakery and biscuits facility as an expansion,” the statement reads.
Monde Nissin is the company behind brands like Lucky Me, Skyflakes, Fita, and M.Y. San Grahams, among others.
The project is also expected to provide employment to more than 100 skilled workers, stimulate the movement of raw materials and finished goods in Mindanao and Visayas, as well as export to Indonesian and other Southeast Asian markets.
DCIPC offers incentives which include granting Monde Nissin “tax incentives in the form of exemptions from the payment of business sales tax for three years, real property tax for two years, and mayor’s permit fees for three years.”
From Jan. to Sept. 2024, DCIPC now recorded a total of P3.38B in approved investments in Davao City, including investments from VA for Professionals (Business Processes Outsourcing), Viking Cold Storage Inc. (light manufacturing), and Golden Señoritas Inc. (light manufacturing).
