6/8/2009

World giants in line for investing in Turkey

Zaman – According to Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), the newly granted incentives will trigger brand new investments. Korkmaz pointed out that an incentive package has been prepared for the first time in Turkey based on an industry analysis, while he says he cannot make out why minimum amounts set for big projects are being criticized. Under the terms of the new incentive law, around TRY 50 million – TRY 1 billion will be invested in 12 sectors. Korkmaz says, “Turkey is not Ireland, thus we cannot only grant incentives for just two sectors” and adds that long-term evaluations will contribute more to the Turkish economy than short-term ones.
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