Turkey Offers Multiple Funding Models for German Machine Builders

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Turkey Offers Multiple Funding Models for German Machine Builders
Turkey Offers Multiple Funding Models for German Machine Builders

The Turkish machinery industry relies more than ever on partnerships with German companies, thanks also to the interesting funding programs in Turkey. So said Kayhan Sevda Yilmaz, the board member of Machinery and Accessories Exporters' Union (Turkish Machinery) responsible for German-Turkish cooperation, at the EMO metalworking exhibition, in relation to Turkish exhibitors, with a total of 41 stands showing a strong presence. "We want to cooperate more intensively with German manufacturers," said Yýlmaz, "and at all levels of the value chain."

The real motivation for this is probably since 2012, the Turkish Republic, which will celebrate its 100th birthday in 2023, has established a new promotion/ development system. Kudret Ceran, Turkish commercial attaché in Hanover, said at a press conference at the fairgrounds that funding opportunities may be offered as an investment incentive for German companies: "This system provides excellent funding opportunities for investors, especially with the exemption from VAT and other tax breaks for companies that are active in Turkey."

Also an exemption from import duties is possible, added interest subsidies and financial contributions of the Turkish state for insurance of employees. Depending on the region in Turkey which is invested in, funding opportunities may vary. For this, the Turkish Ministry of Economy has developed a regional promotion map, which is available at www.economy.gov.tr. Here also all funding possibilities are explained in detail.

Posted on October 8, 2013 - (223 views)
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