The paper examines existing incentives for research and development in line with the country's bid for industrialization. It notes that incentives may not be enough to induce R&D activities unless all other factors such as favorable business climate, adequate logistic support, sufficient scientific technological services and strong linkages, etc. are present. It recommends the continuing evaluation and assessment of the effectiveness of existing fiscal incentives to make them more responsive to the peculiarities of R&D investments.
