Incentive scheme boosts investments

Incentive scheme boosts investments

ANKARA - Anadolu Agency
Incentive scheme boosts investments

Turkish Economy Minister Zafer Çağlayan says the number of investment incentive certificates rises. AA photo

Turkey’s “Investment Incentives Scheme” has proved successful in fulfilling its original targets since the initiative was implemented, Economy Minister Zafer Çağlayan said in a written statement yesterday.

Minister Çağlayan noted that both the number of investment incentive certificates (issued to organizations that take partake in the scheme), and the investment’s value, showed a considerable hike in the first nine months of this year in comparison to the same period last year.

The number of investment incentive certificates reached 3,710, equating to a 21 percent rise, Çağlayan said. The predicted fixed-investment value rose to 55.2 billion Turkish Liras ($27.6 billion) with a 58 percent increase as the number of jobs slated to be created rose to 132,649 with a 37 percent increase.

Çağlayan stated that these figures attest to the relatively new incentive scheme’s positive affectivity, which was maintained increasingly across all regions, but particularly in the fifth and sixth regions (the country’s eastern provinces). The Investment Incentives Scheme, an initiative of the Economy Ministry, became effective as of Jan. 1, 2012, incentivizing local and foreign investors to nurture a gradual reliance on domestically-produced goods, particularly with a focus on lesser developed regions in Turkey.

The manufacturing sector contributed 40 percent (22.2 billion liras) to the fixed investment amount, the energy sector 24 percent (13.3 billion liras), while the services and mining sector accounted for 23.6 percent (13 billion liras) and 12 percent (6.8 billion liras) respectively, Çağlayan said.