10/7/2010

Finance Minister: A third of incentive certificates granted to foreigners

Hurriyet - Turkey’s Minister of Finance, Mehmet Simsek, said that the total TRY 47 billion (approx. USD 33 billion) worth of incentive certificates granted last year, a third was utilized by foreign investors. “Even during the global financial crisis, the proportion of foreign applications for investment certificates amounted to a third of the total”, said Simsek.

Speaking at the First Turkish-German Cooperation and Investment Conference held in Berlin by the Foreign Economic Relations Board (DEIK), Simsek said that Turkey reached an impressive growth rate of 11 percent in the first quarter of 2010 and is expected to continue at high rates. “Turkey’s strong banking system proved essential in successfully tackling the effects of the crisis”, said Simsek, adding that Turkey’s rapid development was aided by continuing reforms.
turkey; germany; deik; investment incentives; incentive certificate; mehmet simsek; turkish-german