Provides incentives for export-oriented activities and lifts ban on mineral exploration
11 Nov 2022
On 11 November 2022, the Minister of Finance presented the Government Budget for 2023, which includes several initiatives. Firstly, the budget provides incentives for export-oriented and import-substituting businesses to generate foreign exchange and stabilize the exchange rate. Secondly, it lifts the ban on mining exploration to attract FDI and generate foreign exchange. Lastly, it aims to harmonize mineral export tax policies with neighboring countries and re-evaluate license fees to minimize smuggling.
In order to improving business regulatory reforms and supporting SME development., the Government will also automate the business registration process through an integrated online platform.
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Type:
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Entry and establishment (Ownership and control)
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Promotion and facilitation (Investment facilitation , Investment incentives)
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Industry:
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Not industry specific
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Primary (Mining and quarrying)
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Sources:
