Investment Policy Monitor
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the Investment Policy Monitors and the UNCTAD-OECD Reports on G20 Measures.
In 2024, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2012 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for sustainable development.
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The UNCTAD's Investment Policy Monitor database include official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting FDI (FDI-specific), as well as general investment measures with a clear impact on foreign investment (FDI-related). The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases). The classification of measures as more or less favourable is based solely on their potential impact on investors.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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- Singapore - Introduced a new Refundable Investment Credit (RIC) to promote FDI
Singapore
Introduced a new Refundable Investment Credit (RIC) to promote FDI
16 Feb 2024On 16 February 2024, the Government of Singapore introduced a new Refundable Investment Credit (RIC) for investment promotion. The RIC encourages companies to make sizeable investments that bring substantive economic activities to Singapore, in key economic sectors and new growth areas. Supported activities include investing in new productive capacity, such as manufacturing plants; expanding or establishing the scope of activities in digital services; and expanding or establishing headquarter activities.
To support RIC, the Government will top up the National Productivity Fund by approximately $1.5 billion. The Economic Development Board (EDB) and Enterprise Singapore will award the RIC based on qualifying expenditures incurred by the company in respect of a qualifying project, during a period of up to 10 years. Qualifying expenditures are dependent on project type and include capital expenditure, manpower costs, training costs, professional fees, and intangible asset costs, among others. The credits are to be offset against the corporate income tax payable. Any unutilised credit will be refunded to the company in cash within four years from when the company satisfies the conditions for receiving these credits.
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Type:
- Promotion and facilitation (Investment incentives)
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Industry:
- Not industry specific
- Manufacturing
- Services (Computer programming, consultancy and related activities, Other professional, scientific and technical activities, Administrative and support service activities)
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Sources:
- Government of Singapore, REFUNDABLE INVESTMENT CREDIT, https://www.mof.gov.sg/docs/librariesprovider3/budget2024/download/pdf/annexc1.pdf, 16 Feb 2024
- Government of Singapore, Refundable Investment Credit (RIC), extension://nhiebejbpolmpkikgbijamagibifhjib/data/reader/index.html?id=1167248206&url=https%3A%2F%2Fwww.iras.gov.sg%2Fschemes%2Fdisbursement-schemes%2Frefundable-investment-credit-(ric), 16 Feb 2024
- PWC, Refundable Investment Credit, https://www.pwc.com/sg/en/publications/singapore-budget/commentary/refundable-investment-credit.html, 17 Feb 2024
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the Investment Policy Monitors and the UNCTAD-OECD Reports on G20 Measures.
In 2024, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2012 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for sustainable development.
-
The UNCTAD's Investment Policy Monitor database include official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting FDI (FDI-specific), as well as general investment measures with a clear impact on foreign investment (FDI-related). The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases). The classification of measures as more or less favourable is based solely on their potential impact on investors.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.