Turkey delivers tax incentives for investment projects worth $ 3.5 bn

Business Materials 14 January 2013 18:39 (UTC +04:00)

Azerbaijan, Baku, Jan. 14 / Trend A. Taghiyeva /

Turkey delivered tax benefits for 215 investment projects from June to November 2012, the Turkish Economy Ministry's report said today.

The total cost of these projects is $ 3.5 billion. The Turkish government delivered investment benefits for 29 projects worth $630 million in November 2012.

Around 148 projects of the total number of projects which received benefits from June-November 2012 are related to the manufacturing industry, 44 to the service sector, 10 projects to the extraction of minerals, eight projects for electric power, drinking water and natural gas and 5 projects for the field of agriculture and forestry.

A new package of measures for economic stimulation entered into force in Turkey in June 2012. The stimulation process will be implemented in the provinces. The provinces are divided into six regions according to their socio-economic development level.

Large-scale investments in fixed assets for producing oil products, chemical products and vehicles (the minimum amount of which varies from 50 million Lira to 1 billion Lira) will be involved in the process of stimulation.

The official exchange rate is 1.7624 TL/USD on Jan. 14.