Incentive categories generally mirror the stages involved in project development, visually:
Conceptualisation of the project, including feasibility studies and research and development;
Capital expenditure, involving the creation or expansion of the productive capacity of businesses; and
Competitiveness enhancement, involving the introduction of efficiencies and whetting the competitive edge of established companies and commercial or industrial sectors
Concept and R&D
These are incentives available to private sector enterprises that invest in the creation, design and improvement of new products and processes. Such businesses conduct investigative activities with the intention of making a discovery that can either lead to the development of such new products and processes or to the improvement of existing products.
Capital Expenditure
These are companies that want to acquire or upgrade assets in order either to establish or expand the business’ productive capacity.
Competitiveness Enhancement
These are investments which facilitate increased competitiveness, sustainable economic growth and development in a specific sector.