4/18/2012

New incentive scheme to draw more US investments to Turkey

Sabah – Turkey’s newly introduced incentive scheme left a lasting impression on the executives of some of the leading companies in the US, according to Turkey’s Minister of Economy Zafer Caglayan on a visit to the USA with the purpose of showcasing the advantages of the new system.


“Turkey’s new incentive system impressed the US businessmen. We expect to see a boost in foreign investments this year,” Caglayan said after a meeting in New York with the executives of Pepsi Co, General Electric, 3M, Kimberly-Clark and Quest Diagnostics. The companies, with a total turnover of USD 300 billion, expressed interest in investing in Turkey, Caglayan said.


Among the potential investors, Pepsi Co, whose investments in Turkey have already reached USD 800 million, is considering the country for a supply and distribution base for markets in North Africa and the Middle East. Kimberly-Clark, known for its labels Huggies and Cotex, also relayed its intention to invest in Turkey and plans to transfer some of its operations from other countries, according to Caglayan. Another well-known US company, 3M is thinking of adding a production plant in Corlu, Tekirdag to its investments in Turkey, while medical testing company Quest Diagnostics is eyeing the health-care sector for possible endeavors, the Minister added.

Turkey; turkey incentive scheme; turkey incentive regime; investing in turkey; us companies in turkey; zafer caglayan

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