The government plans to establish a new incentive system to attract foreign investment to Turkey, Development Minister Lütfi Elvan said Thursday. With the new system, a project-based support mechanism will be created. Speaking to Anadolu Agency, the minister also added that after negotiation by the Economy Ministry with any firm wanting to invest in Turkey,
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August 11, 2016
New era for Turkey-Russia relations: Cavusoglu
Turkey and Russia took a big step towards normalising relations on Tuesday, with President Recep Tayyip Erdogan and his counterpart Vladimir Putin announcing an acceleration in trade and energy ties at a time when both countries are looking for an upturn in their economies and have strains with the West. In an exclusive interview with
August 5, 2016
EMPLOYMENT IN TURKEY
Turkey, with its 78 million population, %16,5 young, has a big potential of employment. It contains in itself qualified and non-qualified workforce with a great value. The big part of the employment in Turkey is provided by the sector of Agriculture. This percentage tend to move to service sector with a huge increase. By June
July 29, 2016
Economic confidence surges in July amid coup bid
Turkey’s economic confidence index in July rose by 14.9 percent compared to the previous month, signaling no damage to confidence in the country’s economy after the failed July 15 coup attempt. Services confidence index increased to 100.86, retail trade confidence index increased to 103.56, construction confidence index increased to 82.95 and real sector confidence index
July 8, 2016
European bank provides new funds for Turkish renewable energy projects via Akbank
The European Bank for Reconstruction and Development (EBRD) has said that in response to growing demand it has been providing $110 million in new funds to Akbank to finance private companies investing in renewable energy and resource efficiency projects in Turkey in a written statement on June 30. EBRD funds are extended through an investment
June 28, 2016
Turkey’s TAV breaks ground on new Tbilisi Airport terminal
The operator of Tbilisi Airport, TAV Airports, has said it broke ground on the airport’s new terminal in a ceremony attended by Georgian Prime Minister Giorgi Kvirikashvili, in written statement on June 27. Kvirikashvili presented to TAV Airports President & CEO Sani Şener the State Medal of Distinguished Service for his contributions to the country, according
June 9, 2016
Turkey to offer ‘whatever it takes’ for strategic investments, including 20 tax-free years
Turkey will do “whatever it takes,” including specialized incentives and a 20-year tax holiday, to make it possible for strategically crucial investments to be realized in a number of sectors, Economy Minister Nihat Zeybekci has said in an interview with Reuters. “We will offer whatever it takes to create our global giants, to secure our
June 7, 2016
Turkish company ‘agrees $4.2-billion deal to build Iran power plants’
Turkish energy company Unit International has reached a deal worth $4.2 billion with Iran’s Energy Ministry to build seven natural gas power plants, in what it said was the biggest investment in Iran since the lifting of sanctions. Turkish companies have seen the move as a major trade and investment opportunity, with the car, clothing, textiles, machinery
May 17, 2016
Turkish investors to build at least 10 hotels in Iran in line with tourism protocol: Turkish official
Turkish investors will build at least 10 hotels in Iran and both countries will increase flights with each other in a bid to boost tourism, as part of a protocol signed by high ranking Turkish and Iranian tourism officials on May 12, officials from Turkey’s Tourism Ministry have told Reuters. According to the protocol, Turkish investors will
May 13, 2016
Bank of China gets green light in Turkey
Bank of China, one of the world’s largest financial institutions, has received permission to operate in Turkey, Deputy Prime Minister Mehmet Simsek said. “Turkey’s investment potential and stable economic structure boost foreign-capital banks’ interest in Turkish banking sector,” Simsek said, adding there are many applications from large international banking groups to the BDDK for new establishments
May 6, 2016
Istanbul, İzmir have strong self-financing capacity, supporting investments: Moody’s
Sizeable investment programs are sustainable for Istanbul and the Aegean city of İzmir thanks to their robust operating performance, effective financial management, strong economies and large and valuable asset bases, said Moody’s in a note on May 5. Istanbul’s traditionally high gross operating margin is expected to rise to 48 percent of operating revenue by