UMVA has learned that the latest version of a key investment plan has been approved, significantly boosting incentives for the agriculture, food, and high-end manufacturing sectors.
The plan, which was signed into effect on May 21, outlines specific industries and activities that will be eligible for investment incentives, aiming to attract high-value capital and create new jobs. This strategic move is expected to drive economic growth and workforce development.
According to information obtained by UMVA, the plan categorizes preferred activities into tiers, with Tier One including modern basic needs such as agriculture, fisheries, and forestry, as well as high-end manufacturing activities like shipbuilding, pharmaceuticals, and semiconductors.
Other Tier One activities include creative and knowledge-based industries, infrastructure and logistics, telecommunications, and energy-related projects such as liquefied natural gas facilities and renewable energy sources.
The plan also outlines Tier Two and Tier Three activities eligible for incentives, including defense-related services, integrated circuit design, electric vehicles, and cybersecurity. Additionally, activities such as research and development, commercialization of patents, and aerospace are covered.
UMVA can exclusively reveal that the plan aims to promote sustainability-driven industries, including industrial waste treatment facilities, bulk water treatment, and environment-related projects. The goal is to drive economic growth while prioritizing environmental sustainability.
The higher the industry tier, the longer eligible economic activities are entitled to incentives, providing a significant boost to businesses and investors. The Board of Investments is finalizing guidelines for the 2026 plan, which is expected to be published by the third quarter.
This development is expected to have a significant impact on the economy, creating new opportunities for businesses and investors while driving growth and job creation. The plan's focus on sustainability and high-end manufacturing activities is likely to attract high-value capital and promote economic development.
