Government has deliberately designed investment incentives to support private sector participation in all sector of the economy. While some of these incentives are in form of tax holiday, exemptions, and reliefs, there are many more that leverage on specific government policies, performance of the companies as well as relevant international investment treaties.
Some of the government incentives are:
a. Some start-up equity (on a case-by-case basis) for investments in critical sectors.
b. Investment Guaranties and minimum off-take, also on a case-by-case basis.
c. Income tax relief for a period of three years and which can be extended for a period of one year and thereafter another one year or for one period of two years – Pioneer Status Incentives.
d. Tax Incentives for Capital Equipment Purchases
e. Allow easy repatriation of profits
f. Zero Import Duty: Zero percent import duty tariffs (custom, excise and value added) for import of agricultural equipment and agro-processing equipment.
g. Avoidance of double taxation agreement which eliminates double taxation with respect on income and capital gains.
a. Land (with certificate of occupancy) with basic infrastructure; access roads, electricity, water, etc
b. Government-backed security network with 24 hr patrols to ensure safety and security of lives and properties
a. Access to government-developed Investor Information and support through its investment agency, ISIPA
b. One-stop channel access to all government bodies through ISIPA’s One-Stop Investment Center
c. Re-engineered business processes and policies to boost ease of doing business, with aim to make Imo to rank 1st in Ease of Doing Business rating
d. Fast tracked licensing and issuance of all necessary permits
e. Government backed security
f. Investment promotion and protection agreement provides reciprocal baseline protections for investments.