for host countries to accumulate capital, raise employment and tax revenue, and obtain organizational practice, and transfer knowledge (UNCTAD-DTCI, 2000: 3). Therefore, most governments are striving to create an enabling environment by providing investment incentives to attract foreign direct investment (Blomstrom and Kokko, 2003: 2). Fiscal incentives such as tax holidays, reduction of corporate income tax rate and investment tax credits are globally applied to attract foreign direct investment. However…
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