Investment, Trade and Business Development (Amendment) Act No. 3 of 2024.

This Act consisting of 3 articles provides for the following (i) amending Article 2 to remove the definition of rural area and introduce a new definition for expansion project, which refers to a planned initiative to enhance the size, capacity, scope, or reach of business operations, facilities, or infrastructure; (ii) amending Article 30 to clarify that an investor is eligible for incentives if they invest in a new or expansion project within a special economic zone, priority sector, rural area, or farm block.