Nearly all business sectors are open to foreign investors. Government approval is not required and there are few restrictions on how or how much foreign entities can invest. Additionally, the Government has put in place various measures to encourage foreign investments, including simple tax rules, investment incentives, a better regulatory policy on competition and protection of intellectual property. Below are a few examples of these measures:
- The Foreign Investment Grant, a cash grant, which provides up to 15% of the value of new machinery and equipment
- The Skills Support Programme, which provides up to 50% of training costs and 30% of workers’ salaries
- The Industrial Policy Project programme, which offers tax allowances.
Despite these measures and a developed economy, some elements may indicate that the government is not convinced of the importance of FDI. Thus, some laws are approved without an initial analysis of the consequences they may have on certain economic sectors.