Minister: Reliable system created for stimulating investments in Turkey’s economy

Business Materials 18 November 2013 20:39 (UTC +04:00)

Baku, Azerbaijan, Nov. 18

By Rufiz Hafizoglu - Trend:

Turkey has created the conditions to stimulate the economic development, Turkish Economy Minister Zafer Caglayan was quoted today by Sabah newspaper as saying.

"Today, the economic development is one of Turkey's priority and the most reliable system has been created for stimulating investments," the minister said.

A new package of measures on stimulating investment in the country entered into force in June 2012. The provinces, which will cover the process of stimulating, are divided into six regions according to their socio-economic development level.

Large capital investments in the fixed capital for establishing the production of petroleum products, chemicals and chemical products, vehicles, the minimum amount of which varies from 50 million to one billion lira, will be involved in the stimulation process.

The official exchange rate is 2.0374 TRY/USD on Nov. 18.