Investment incentives include provision of plots for nominal lease charges in specified areas and reduced utility charges and exemption from taxes.
Tax exemptions from corporate tax and customs duties are granted to entities engaged in manufacturing, mining, agriculture, fishing, fish farming, fish processing, aquaculture, animal breeding, tourism, export of manufactured and processed products and public utilities.
The exemptions are granted for five years from the date of production or when the services are first rendered and a five year extension may also be granted subject to certain conditions.
Foreign airlines and shipping companies are exempt from taxation based on reciprocal treatment.
Universities, colleges, higher education institutes, private sector schools, training institutes and private hospitals are exempt from tax.