3/25/2009

Incentive in form of law for foreign investments

Aksam - Zafer Caglayan, the Turkish Minister of Industry and Trade, evaluated the measures taken so far in order to tackle with the negative effects of global economic crisis and stated that the psychological distress of the crisis is eased with the reduced special consumption tax (SCT) in the first place. Caglayan said that a kind of recovery was observed in the automotive companies following the reduction and added, “We are aiming for three things in this law, which is regarded as both a regional and a sectoral incentive: Strong competitiveness, high added-value and international competitive power. The investors will make their investments according to the new law. Following the enforcement of the law, we expect a substantial increase in foreign investments”.