Special incentives for textile firms relocating to priority regions

12 Sep '08

1 min read

Manufacturers in the textile industry would now be accorded with a special package of incentives by the Turkish Government in a bid to encourage relocation to priority regions for development.

The new incentives in the action plan to be made available from 2009 until 2014, aims to turn Turkey's less developed southeastern region into a center for the Turkish textiles industry.

Ministers stated at a press conference in Ankara that the announced plan of action includes providing support to textile, ready-to-wear and leather sectors for which the Government has already drafted a list of 28 additional measures.

Moreover, the Government has also guaranteed benefits emerging from special advantages like tax breaks, 50 percent loan aid, and zero-interest credit for those textile manufacturers willing to move from the developed regions to priority regions for development. This was made amply clear by Mr Zafer Caglayan, Turkish Industry Minister at a press conference following the meeting held for the Strategic Action Plan for Textile, Ready-to-Wear and Leather sectors.

Representatives of various sectors lauded the scheme as a positive initial step from the Government while others said it was similar to the pre-announced south-eastern Anatolia Project (GAP) that aims at removing existing differences between Turkey's provinces.

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