What steps has the government taken to attract foreign investment?
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Government attracts foreign investment in the followings ways
(i) Special Economic Zones have been set up to have world-class facilities such as cheap electricity, roads, transport, storage, etc.
(ii) The companies set up their units in SEZs which are exempted to pay tax for initial period of five years.
(iii) Labour laws are made flexible.
(iv) Instead of hiring workers on a regular basis, companies hire workers flexibly for short period when there is intense pressure of work.
(i) Special Economic Zones have been set up to have world-class facilities such as cheap electricity, roads, transport, storage, etc.
(ii) The companies set up their units in SEZs which are exempted to pay tax for initial period of five years.
(iii) Labour laws are made flexible.
(iv) Instead of hiring workers on a regular basis, companies hire workers flexibly for short period when there is intense pressure of work.
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Governments try to attract foreign investment because it helps to create more job opportunities in a country, directly as well as indirectly in service sector. We can gain additional taxes by taxing the profits made by foreign investments.
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