Federal Government today, Thursday, rolled out robust incentives for foreign investors who are willing to invest in the country, according to Vice President Namadi Sambo.
Other incentives include 100 percent repatriation of profits, 140 percent capital allowance in research development, 20 percent capital allowances for five years on local raw materials utilisation as well as 30 percent tax relief and expenditure on public infrastructure.
In a related development, the Federal Capital Territory Administration (FCTA) has unveiled plans to attract over $1.8 billion foreign direct investment (FDI) over the next four years through the Abuja Industrial Park.
Vice President Namadi Sambo who performed the ground breaking ceremony of Idu Industrial Park, in Abuja, further noted that “the establishment of industrial park is our national implementation plan to meet vision 20:20 of Mr. President is determine to create a vibrant private sector that could create competing advantages in the place of globalization.
No comments:
Post a Comment