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It
is the policy of the government to encourage economic development
through private sector initiatives. Foreign and local
investment in all business sectors is welcomed. The
injection of investment funds from abroad is essential to
ensure proper exploitation of the province's vast natural
resources, which will in turn enhance the continued development
and advancement of all the people living in the province.
Various investment and other incentives are available to
investors.
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This
programme was introduced in September 2000. It provides
incentives to new projects or expansion of an existing project
in manufacturing, high value agricultural projects and agro-processing,
aqua-culture, bio-technology, tourism, information and communication
technology, arts and culture. The maximum incentive limit
qualifying asset is $15million, although total qualifying
assets of the project may exceed $15million. The investment
grant is payable for the first two years on approved qualifying
assets
An additional investment grant can be payable in the third
year on the ratio of Human Resource remuneration expresses
in terms of manufacturing cost and must be a minimum of
30%. |
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