Investment notes increase by 81 pct

ANKARA

Economy Minister Çağlayan (P) announces that 3,058 incentive certificates worth 46.2 billion liras were issued in the first seven months of the year. DHA photo

Economy Minister Zafer Çağlayan announced yesterday that 3,058 incentive certificates worth 46.2 billion Turkish Liras were issued in the first seven months of this year, 81 percent higher than in the same period last year.

While the amount of expected fixed investments increased, the expected new jobs created by them increased 55 percent in the first seven months of 2013. In a written statement, Çağlayan said around 107,500 new jobs were expected from these incentives.

Manufacturing received the lion’s share of the investments, accounting for 40 percent of the 46.2 billion lira total, followed by energy with 27 percent.

“The expected amount of fixed investments increased by 251 percent in the first seven months of this year, from 1.6 billion liras to 5.5 billion liras, while the expected number of new jobs increased to 16,438 from 9,190,” Çağlayan said.

Some 447 investment certificates were issued in July alone, worth 5 billion liras. Some 426 of these certificates were for local firms, and the remaining 21 were for foreign firms.

Turkey adopted a new geographical region and industry-based state incentive system on June 20, 2012. Provinces are ranked in terms of social and economic development and are categorized into six groups in terms of incentive priority.

Çağlayan asserted the system was expected to carry both employment in general and in industry onward.