Gov’t unveils 2-year investment action plan

ISTANBUL

The government has announced an action plan that aims to improve the investment environment in Türkiye.

The 57-point plan, the details of which were unveiled by the unveiled by the Investment Environment Improvement Coordination Council (YOİKK), will be implemented in two years between 2024 and 2026.

The plan aims to facilitate and simplify the legislation, administrative and judicial processes related to the investment environment, Vice President Cevdet Yılmaz said.

The actions to be taken under the plan will also focus on providing targeted and selective investment financing and accelerate digital and green transformation in the industry, Yılmaz added.

“We will ensure that they are implemented in the fastest and most effective way.”

It is aimed to complete the legal and regulatory studies and most of the technical work set out in the plan by the end of 2024, thus creating concrete and permanent effects on the investment environment in the short term, YOİKK said in a statement.

The plan focuses on proposals for direct foreign investments, reducing the current account deficit and increasing employment opportunities, according to YOİKK.

Under the action plan, technical studies and legal regulations will be carried out in 2024 to attract investments in joint service centers of multinational companies to Türkiye.

The work and residence permit processes of foreign technology experts and technology entrepreneurs who have certain qualifications will be facilitated.

The studies regarding legislative changes for new generation flexible working models such as remote, part-time and temporary work will be carried out.

Moreover, steps will be taken to redirect pension funds toward venture capital funds, according to the action plan.