Zaman - Turkey’s national investment agency is intensifying its efforts to bring foreign investment into the country in accordance with the government’s designated key growth areas. A visit to General Motors’ German office in Frankfurt, Germany by an Investment Support and Promotion Agency of Turkey (ISPAT) team led by President Ilker Ayci is the latest step taken towards attracting new investors to the country’s booming automotive industry.
ISPAT officials met with Opel executives to brief the General Motors group company on Turkey’s impressive range of incentives and numerous other advantages as an automotive manufacturing hub. The visit drew attention to Turkey’s particularly enticing research and development (R&D) incentives, which the Opel executives took careful note of.
“General Motors is evaluating the option of shifting its European manufacturing operations elsewhere to cut costs. Turkey’s R&D incentives are definitely eye-catching in this regard,” said Opel Turkey General Manager Ozcan Keklik after the meeting.
Opel’s Combo model light commercial vehicle, built on the Fiat Doblo chassis, will enter production in Fiat’s Turkish facility on October 22. Opel invested EUR 137 million in R&D and Fiat plant upgrades to manufacture the vehicle in Turkey.
Turkey, with its strong economy and increasing income levels, has a rapidly growing auto market. A total of 635,000 vehicles were sold in the country in the first nine months of the year, 31 percent more than the same period of the previous year.