The Van Textile Zone Project, launched by the Government of Turkey, will benefit the eastern province of Van, as the competitive advantage is no longer available for the textile sector in developed cities.
According to Development Minister Cevdet Yilmaz, the Project is mainly intended at helping the youth and to improve economic conditions.
Although the project details are not elaborately available as yet, the Minister said that suitable conditions will be created to attract investors.
He pointed out that some of the Turkish textile enterprises have shifted their operations to countries like Egypt, Bangladesh and India, and added that these enterprises should consider investing in the eastern province of Turkey by taking advantage of incentives provided by the Government.
The Minister informed that the Government will continue to extend the facilities given to the textile manufacturing sector by the previous Government, and said that he would shortly convene a meeting with leading textile entrepreneurs in Ankara to discuss the prospects and expectations of the industry.
The Minister also talked about the new incentives package, which, he said, is mainly aimed at downsizing the current account deficit (CAD) and regional disparities in the country.
He said strategic sectors, which are expected to contribute in reduction of CAD, would be given a priority by the Government while distributing the incentives. In addition, such incentives will also facilitate regional development, he added.
Fibre2fashion News Desk - India
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