Trade Minister calls for investment in Next-Generation Specialized Free Zones

Speaking at the promotion meeting for specialized free zones, Trade Minister Ruhsar Pekcan called the private sector and foreign investors to invest in the “Next-Generation Specialized Free Zones”. Pekcan said that to this date, foreign capital companies have invested more than USD 2.5bn in free zones.

“With our new model, we aim to establish R&D-intensive, high value-added, innovation and tech-oriented free zones,” said Pekcan. She stated that the Next-Generation Specialized Free Zone model will be among the best in the world and will offer attractive opportunities for producers and exporters.

Pekcan spoke about the support that will be provided to companies that take part in the new specialized free zones, in addition to the support already offered in existing free zones. “We will provide five years of rent and salary support to firms operating in specialized free zones,” Pekcan said. The support will include half of the wages of 10 qualified employees of the firms, up to USD 15,000 each and half of the rent expenses for the land and buildings rented in the specialized zones, up to USD 75,000. Pekcan stated that they are planning to expand the support provided to software and informatics companies that will invest in the specialized free zones to other high-tech and high-value-added sectors.

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