Investment Incentives

Procedures and principles relating to incentives and subsidies are governed by a number of laws. The Council of Ministers has the authority to pass decrees in conjunction with incentives and subsidies.

Each year the Council of Ministers determines the conditions for an investment to benefit from incentives and subsidies, as well as the type and nature of the subsidies and benefits to be provided to the investor.

The Undersecretariat of the Treasury has the authority to apply the decrees of the Council of Ministers. Each year, the Undersecretariat of the Treasury issues a communique in which the principles and procedures regarding the enforcement of the Council of Ministers Decree are set out, and explanations on application are provided.