BY HUSEYIN GOKCE
Turkey places a particular emphasis on investments with incentives to raise production and employment. Although the country has made inroads into investments with incentives, it hasn’t reached the desired level in value-added exports and overall production.
The investment incentive regulation, which includes the world’s most generous incentive elements, is upgraded continuously in line with current conditions; another amendment is on the agenda according to the Medium-Term Economic Program (OVP).
The investment incentive system will form the backbone of the OVP again.
The investments with incentives exceeded USD 200bn in 2013 for the first time and hit USD 215bn. Investments fell to USD 188bn in 2014, USD 181bn in 2015, and USD 156bn in 2016.
The investments with incentives hit an all-time high of USD 233.68bn in 2017.
They decreased to USD 133bn in 2018 and USD 103bn in 2019.
Investments with incentives rose to USD 126bn in 2020 when the pandemic emerged. Despite the hike in USD/TRY, they fell to USD 101bn in 2021.
Investments with incentives hit a historic high of USD 75bn last year.
They remained at USD 29.49bn in January-July 2023 and are estimated to remain below USD 70bn this year.