Companies will be given :

1. a minimum of 3 years corporate income tax exemption or a minimum 30% corporate income tax allowance. This tax exemption is not granted on an incremental basis over and above existing incentive provisions.

2. duty exemption on imported capital goods required by the promoted investment projects.

Companies will be given free market access to the domestic market of the host country.

Companies will be allowed 100% foreign equity ownership.

Companies will be given the right of use or lease of factory or industrial land for a minimum period of 30 years.

Approved investment projects will be given speedy customs clearance through the ASEAN CEPT Green Lane or equivalent procedures adopted by the ASEAN Member Countries for all raw materials and capital goods required by the investment projects.

The privileges cover more relaxed policy on the following:

1. Approval of foreign professional, managerial and technical personnel posts required by the investor;

2. At least one-year renewable multiple entry visas and exit permits for all foreign professional, managerial and technical personnel and their family members, where applicable; and

3. Restrictions and levies on the employment of foreign professional, managerial and technical personnel, if any.

   
   

Brunei Darussalam will allow 100% foreign equity ownership in high-technology manufacturing and export-oriented industries.

Indonesia

Indonesia offers wholesale and retail trade up to 100% foreign equity ownership to qualified investors, in addition to 100% foreign equity in all areas of the manufacturing sector. Indonesia has also reduced the processing time for approval in principle, for investments less than US$100 million, to 10 working days. In the banking sector, listed banks are open for 100% foreign equity ownership.

Lao PDR

Lao PDR allows duty exemption on imported capital goods required by the promoted investment projects.

Malaysia

Malaysia offers 100% foreign equity ownership in the manufacturing sector with no export conditions imposed on all new investments, expansions and diversifications (except for seven specific activities and products).

With limited exceptions, foreigners can also own land in Malaysia.

Myanmar

Myanmar will extend minimum of three years corporate tax exemption to all investment projects in all sectors. In addition, Myanmar will also extend duty free import of raw materials to all industrial investments for the first three years of operation.

Philippines

Philippines will open retail trade and distribution business to foreign equity. In addition, the Philippines has opened private construction in the domestic market to foreign companies.

Singapore

Singapore has substantially reduced business costs as part of a cost reduction package that amounts to S$10 billion in savings in addition to extending 30% corporate investment tax allowance on a liberal basis to industrial projects and to selected service industries in respect of productive equipment. These activities include manufacturing, engineering or technical services and computer-related services.

Thailand

Thailand allows 100% foreign equity ownership for manufacturing projects regardless of location. Furthermore, agricultural projects which export 80% of sales will receive import duty exemption on machinery, regardless of location.

Vietnam

Vietnam extends duty exemption on imported capital goods for all projects. In respect of inport of raw materials for production for specially encouraged investments and for projects located in mountainous or remote regions for the first 5 years of operation. Issuance of investment licenses for several types of projects has been reduced to 15 days from the receipt of proper simplified documents. In addition, investment licensing for projects under US$ 5 million has been decentralised to all provinces and cities.

1. Meet the minimum investment level specified by the host country, if any;

2. The industry must be in the published priority list for tax incentives to enjoy this particular privilege;

3. The industry must not be in any negative list, if any; and

4. The investor must show proof that foreign funds have been brought in for the entire amount of the investment, if required by the host country.

MEASURES	COMMENTS
1. Fiscal Incentives	Details of incentives, priority list and other terms and conditions can be obtained from the individual Member Countries� websites or the individual Member Countries� contact points listed in Section 6.
2. Duty exemption on the import of capital goods	Malaysia - duty-free for export zones and exemption for export-oriented projects. For others, applicable, if not locally manufactured. Philippines - only in export-zones, free ports and selected sectors covered by special laws. Thailand - duty free for export-oriented and special projects located in all zones and projects located in zone 3, if not manufactured locally.
3. Free market access to domestic market	Indonesia - covers all industries except those in the negative list and those in the bonded zones. Lao PDR - export condition may be imposed on selected products. Myanmar - only a certain amount will be allowed for domestic market. Malaysia, Philippines, Singapore, Thailand and Vietnam - covers all industries except those listed in the negative list.
4. 100% foreign equity ownership	Brunei Darussalam - only for high-technology manufacturing and export-oriented projects. Indonesia - after 15 years, companies must have at least some local equity ownership. Indonesia, Malaysia Philippines, Singapore Thailand And Vietnam - covers all industries except those listed in the negative list.
5. Removal of Restrictions and Levies on the Employment of Foreign Nationals, if any	Indonesia - any individuals must pay an exit tax but this is deductible against income tax. Malaysia - Foreign professionals, managerial and technical personnel paying income tax are exempted from paying levy.