The government will give expanded incentives to foreign investors. It plans to exempt them from all land rent payments in foreign investment zones for parts and materials.
According to the Ministry of Knowledge Economy on July 30, the recently revised enforcement ordinance of the Foreign Investment Promotion Act will come into force in August. Under the new regulation, foreign enterprises operating in foreign investment zones for parts and materials will be exempted from all land rent payments. The previous exemption rate was 75 percent.
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