The GOC's attitude towards foreign direct investment (FDI) is generally positive. There are few formal restrictions on foreign trade and investment. Since 2011, Chad's foreign investment inflows have been increasing, largely due to investments in the oil sector. According to United Nations Conference on Trade and Development (UNCTAD)'s most recent figures, Chad's FDI in flows totaled 538.42 million in 2013.Chad's laws and regulations encourage FDI. The National Investment Charter of 2008 offers incentives to foreign companies establishing operations in Chad, including up to five years of tax-exempt status. Under Chadian law, foreign and domestic entities may establish and own business enterprises. The National Investment Charter permits full foreign ownership of companies in Chad. The only limit on foreign control is on foreign ownership of companies deemed related to national security. In recent years, the GOC fully or partially privatized several state-owned enterprises (SOEs) while creating new SOEs. The National Investment Charter guarantees foreign companies and individuals equal standing with Chadian companies and individuals in the privatization process. In principal, tenders for foreign investment in SOEs and for government contracts are done through open international bid procedures.