Concession Agreement

A right granted by a government to a corporation. It specifies rules under which the company can operate locally.

Investopedia Says:
Some concession agreements might include tax breaks for the corporation, in order to keep them from moving to another jurisdiction.

A contract between a host country's government and a foreign firm that wants to invest in the host country. Concession agreements are usually negotiated prior to investment and spell out such things as taxes, remittance of profits, and transfer of ownership.