International credit agency praises Turkey’s new incentive scheme

Posted on 22 June 2012

Istanbul, 25 May 2012 – Fitch Ratings, the international credit rating agency, has praised Turkey’s newly announced investment incentive scheme aimed at reducing Turkey’s dependency on imports therefore reducing Turkey’s international financial support. According to Fitch “It will focus mainly on sectors like energy, mining, the automotive industry and tourism, which are considered the main sources of Turkey’s wide current account deficit. As intermediate goods imports constitute 43 percent ofTurkey’s total production, the government is aiming to provide Turkish manufacturers with a competitive edge to reduce the portion of imports” Source: Invest in Turkey

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