The new investment incentives scheme is specifically designed to encourage investments with the potential to reduce dependency on the importation of intermediate goods vital to the country’s strategic sectors.
Amongst the primary objectives of the new investment incentives scheme are: reduce the current account deficit; boost investment support for lesser developed regions; increase the level of support instruments; promote clustering activities; and to support investments that will create the transfer of technology.
Effective as of January 1, 2012, the new investment incentives system has been comprised of four different schemes. Local and foreign investors have equal access to:
1- General Investment Incentives Scheme
2- Regional Investment Incentives Scheme
3- Large-Scale Investment Incentives Scheme
4- Strategic Investment Incentives Scheme
The support instruments to be provided within the framework of the various investment incentives schemes are shown in the following table: