Channel News Asia reported this week that President-elect, Roh Moo Hyun plans to introduce various tax incentives designed to stimulate both foreign and domestic investment.
In a statement, the transition team for the new administration, due to take charge in late February, revealed that the Finance Ministry had announced that incentives will be afforded to domestic retail investors who choose to buy indirect investment products aimed at local financial markets.
The administration also hopes to stimulate foreign direct investment, which dropped by 19.4% in 2002 to US$9.10 billion, far below its US$13 billion to US$15 billion target.
However, according to the Channel News Asia report, no detail regarding the breaks likely to be available for foreign investors was given by the transition team.
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