New incentive scheme signed by all Cabinet

ISTANBUL- Hürriyet Daily News

Economy Minister Çağlayan says there were many changes in the incentive code.

A decree regarding the new incentive scheme has been signed by all members of the cabinet including Prime Minister Recep Tayyip Erdoğan, who signed before flying to Mexico to attend G-20 meetings, Economy Minister Zafer Çağlayan said during a TV program yesterday.

New details to come
“Now following the signing of Honorable President and publishing in the Official Gazette, we will press the button tomorrow in reciting the name of god,” he said according to a ministry press release.

He said the he will hold a press meeting regarding the incentive scheme this morning.

“Because there are many implementation principles, improvements and many important matters we have not talked about before. We will disclose [information] about provinces, sectors on the basis of provinces, the minimum amounts of investments and some special details,” he said.

The new incentive scheme was first disclosed in early April.

The plan aims to boost investments and employment while bringing down Turkey’s current huge account deficit.