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Turkey: Each region will be a base for a sector

Treasury and Finance Minister Nureddin Nebati met with the ruling and opposition deputies of the Parliamentary Plan and Budget Committee last week. Stating that they will switch to a regional development model in the coming period, Nebati said, “Investments will be made according to this model. For example, we will make the provinces of the Southeastern Anatolia Region a food investment base. The tourism sector will be supported in the Aegean and Mediterranean. We will find out which region is suitable for which investment. We will develop projects according to the dynamics and characteristics of the region.” Explaining that a technology-oriented industry move will be initiated and investment supports will be given accordingly, Nebati said, “We will establish mega industrial zones. We will promote the electric vehicle industries. We will enact the contract agriculture law. We will establish vocational training centers. We will draw sectoral skill maps.”

PROJECT BASED KGF

Emphasizing that a project-based structure will be introduced in Credit Guarantee Fund (KGF) loans, Nebati said, “We will support companies that make investments and exports.” Nebati also said that the confusing VAT rates in retail and wholesale sales will be simplified.

Source: Sabah / Translated by Irem Yildiz

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