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Poorer regions to get investment help

A NEW law on the cabinet agenda August 15 would steer investments to regions with high unemployment.

The draft bill on investment aid, prepared by the Economy Ministry, would also give preference to investments with a higher added value, according to the SITA news agency. If approved, it would take effect on January 1, 2008.

The law involves investment stimuli for projects in the areas of industrial production, technological centres, strategic service centres and tourism centres.

However, the cabinet will still have the final say in the allocation of investment stimuli.

The draft bill divides the terms for individual forms of investment aid by sector and region, while the principle of providing more aid to projects with higher added value in less developed regions will be preserved.

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