Incentives issued for some 41 bln Turkish Liras of investments

ANKARA

Incentive certificates for investments worth a total of 40.7 billion Turkish liras ($2.6 billion) were issued in March, Industry and Technology Minister Mustafa Varank has said.

“The private sector’s appetite for investment continues. Those investments will create jobs for 27,200 people,” Varank tweeted.

Two-thirds of those investments for which incentives were issued will be made in the manufacturing sector, while the shares of the energy and services sectors are 4.8 percent and 32.3 percent, respectively, according to information the minister provided.

Some 1.4 of the investments will go to the agriculture industry and another 1.1 percent to the mining industry.

According to the minister, 39 percent of those investments are expansion, while 54 percent are new investments.

The Industry and Technology Minister granted a total of 7,070 investment incentive certificates in January this year for projects worth some 21 billion liras, which foresee the creation of employment for nearly 24,000 people.

In February, 617 intensives were issued for planned investments worth 17.7 billion liras with the potential to create more than 20,000 jobs.