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Nov 15, 2018

Investment rules relaxed to attract foreign direct investment

Under a new version of the government's "negative list", published on 29 October 2018, foreigners are now allowed to invest up to 40 percent of equity in contracts for the construction and repair of locally-funded public-works projects, up from 25 percent. The cap on foreign ownership of private radio communications networks has also been raised from 20 percent to 40 percent. The updated list also allows full foreign ownership of the following business and activities: internet businesses, teaching at higher education levels, training centres, adjustment, lending and financing companies, investment houses and wellness centres.

Type: Entry and establishment (Ownership and control)

Industry: Not industry specific