Concession agreement

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Concession agreement

An understanding between a company and the host government that specifies the rules under which the company can operate locally.

Concession Agreement

An agreement in which a government, especially a local government, gives preferential treatment to a private-sector company. Generally speaking, a concession agreement involves special tax considerations, and is designed to encourage a company to come to or stay in an area. Governments make concession agreements to promote job growth or stability.
References in periodicals archive ?
(TSX: GGD) ('GoGold', 'the Company') has entered into various agreements ('the Concession Agreements') to accelerate the acquisition of the 29 concessions that comprise the Los Ricos property in Jalisco, Mexico from private Mexican owners.
MANILA, Philippines The Department of Transportation has returned to the consortium of seven conglomerates its unsolicited offer to rehabilitate the Ninoy Aquino International Airport (NAIA) following a decision to require all proponents of airport projects to pattern their draft concession agreements after the operation and maintenance deal for Clark International Airport.
He said the subjects of review include the concession agreements on public utilities and foreign loan contracts.
It said port concession agreements all around the world determine revenue sharing between port authorities and port operations and the same principle was applied in the Gwadar Port Concession Agreement.
"This long-term strategic agreement with OMV, as well as the other Ghasha concession agreements we have concluded recently, underscores Adnoc's commitment to maximising value from Abu Dhabi's substantial gas resources and to ensuring a sustainable and economic supply of gas, in line with the leadership's directives.
Al Jaber said: This long-term strategic agreement with OMV, as well as the other Ghasha concession agreements we have concluded recently, underscores ADNOCs commitment to maximizing value from Abu Dhabis substantial gas resources and to ensuring a sustainable and economic supply of gas, in line with the leaderships directives.
'The government has also made some improvements to the terms of the concession agreements to ensure the needs of the people are met, the interests of the government are preserved, and at the same time being fair to the concessionaires, as opposed to the terms of agreements under the previous leadership,' she said at the Dewan Rakyat sitting here, today.
M2 EQUITYBITES-August 29, 2017-Apex International Energy awarded two concession agreements in Egypt
This denies Manila Water a rate of return "allowed from time to time to operators of long term infrastructure concession agreements in other countries having a credit standing similar to the Philippines" pursuant to Section 9.4 of the Concession Agreement.
The letter was received from the Mongolian Investment Agency, which is the body charged with negotiating concession agreements, and is in accordance with a cabinet resolution.
A total of 503 concession agreements for extraction of minerals are currently in force in Bulgaria for an area of over 1.7 thousand square kilometers, compared to a total of 438 concession agreements in 2012 and an area of slightly over 1000 square kilometers.
In this regard, we have determined certain focal areas such as restricting collusive bidding in public procurement contracts, investigating concession agreements expanding the Office of Fair Trading (OFT) to curb deceptive marketing practices, working on how to restrict associations to their mandate and improving the legal framework on which the Commission is based to more effectively implement this new roadmap.