Century Canning unit seeks BOI incentives

MANILA, Philippines - A unit of tuna products manufacturer Century Canning Corp., is seeking  tax perks for its copra production project in General Santos City.

“Notice is hereby given that Century Agriculture Corp. is applying for registration with the Board of Investments (BOI) as new producer of copra...on a pioneer status,” the BOI said in a published notice.

Century Agriculture’s project will have an annual production capacity of 15 million kilograms of copra or the dried meat of coconut from which oil is obtained.

The facility is located at Lansong in General Santos City.

Century Agriculture can enjoy incentives such as income tax holidays for six years, as well as exemption from payment of duties on imported supplies or parts for equipment, once its application for registration is approved by the BOI.

Under the 2012 Investments Priorities Plan, agriculture, agribusiness and fishery are considered preferred activities and qualified to receive incentives from the government.

Formed in August this year, Century Agriculture is engaged in the manufacture, preservation, production, distribution, export and import of all kinds of food and beverage products derived from fruits, vegetables, and other agricultural produce.

The firm intends to sell its products in the local market, and overseas such as the United States and Europe.

Its parent company, Century Canning is engaged in the marketing of marine and tuna products.

Century Canning carries brands such as Century Tuna, 555 Tuna, Blue Bay Tuna, and Fresca Tuna.

In November, the BOI approved the registration of Century Agriculture’s other project, a food processing facility worth P523 million.

The food processing facility will begin operations in September next year.