Since independence, investments have been minimal. An investment code adopted in 1986 allows free transfer of profits, dividends, and liquidated assets, as well as exemption from export duties. Some investors may qualify for tax and import-duty exemptions.
In 1999, the government granted Island Oil Exploration Limited the right to develop an offshore logistics center and port to support future oil and gas operations. The government also hopes for investment in the tourism sector. From 1997 to 2000, annual foreign direct investment (FDI) inflow increased from $100,000 to $2.2 million. In 2001, FDI inflow declined to $1.1 million.
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