New incentives introduced for investors within Turkish economy stimulation
2012-07-31 12:54:08
Within the law on stimulation of Turkey's economic development, adopted by the country's parliament earlier and envisaging tax facilitation for investors, who invest in the most backward provinces, approved new incentives for investors, the Zaman newspaper quotes Turkish Economy Minister Zafer Caglayan as saying on Tuesday.
Thus, according to the minister, if necessary the government will allocate building to entrepreneurs, investing in the most backward regions of Turkey. At the same time, investors will be given additional incentives to purchase land for investment in these regions.
Caglayan also stressed that with the adoption of this law on June 19, 2012 the Ministry has received 480 complaints of entrepreneurs wishing to invest in the country's regions.
The total cost of these projects will amount to $5.5 billion.
Also, thanks to these projects, 16,247 jobs will be created.
The project on stimulation of Turkish economic development was proposed in early April by Turkish Prime Minister Recep Tayyip Erdogan and envisages involvement of both local and foreign investors, adviser to Turkish economy minister, Alparslan Uymaz told Trend earlier.
He said that this project aims at the development of Turkey's underdeveloped regions.
According to the project, Turkey is divided into six regions depending on the degree of development. Investors, who invest money in these underdeveloped regions of Turkey, will be given additional benefits, Uymaz said.
He stressed preferences on taxation among the main benefits.
"This project will give a start to the development of some sectors in Turkey which had not been sufficiently developed. Under the new project, sectors of production and investment that will enjoy advantages and benefits have been identified. These areas include transport, manufacturing and food," Uymaz said.