Presidential Deputy for Science and Technology, the supreme body in charge of promoting knowledge-based economy, has acknowledged MAPNA’s Turbine Engineering and Manufacturing Company (TUGA) as a knowledge-based industrial entity.
The deputyship’s qualification taskforce designated TUGA as a knowledge-based company in its latest assessment, acknowledging the company’s efforts to produce knowledge- and technology-based high added-value products.
TUGA was the first company to be entitled knowledge-based industrial company by the Presidential Deputy for Science and Technology in 2014.
Recipients of the title will enjoy certain privileges including a 15-year full tax exemption for selling knowledge-based products, and duty-free import of machinery and material. Low-interest loan is another incentive provided for knowledge-based companies.