Project Based Incentives for the investments in Turkey

Turkey’s Parliament has enacted a Law on Supporting Project Based Investments. The Law has been published in the Official Gazette. The Law has authorized the Council of Ministers to grant incentives for project-based investments. A decision from Council of Ministers regarding project based investments has been published in the Official Gazette. The decision has clarified the principles and procedures regarding project-based incentives.

‘New generation’ Trade Agreement with EU on the horizon

Upon the question regarding the ongoing negotiations between USA and European Union with respect to Transatlantic Trade and Investment Partnership (TTIP) and its possible ramifications for Turkey; Deputy Prime Minister Mehmet Şimşek contended that the ultimate finalization of the aforementioned treaty might be delayed due to European Elections slated for the next year. On the other hand, by pointing out that they have already launched the procedures to further Customs Union and ultimately ink a ‘new generation trade agreement’, Şimşek declared that the negotiations between Turkey and EU in this regard will start by 2017.

Delay in secondary legislation holds potential investments worth billions

Industrialists are reported to have postponed their investment projects due to the delay in the enactment of the necessary secondary legislation of East and Southeast Anatolia Investment and Support Initiative, an ambitious investment incentive package tailored specifically for 23 eastern cities economically lagging behind the national average and declared by Prime Minister Binali Yıldırım back in early September 2016.