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Turkey strengthens its economic position with 5 large investment projects

08-09-2019 | admin

The Turkish Ministry of Industry announced on Saturday a huge investment of 14 billion Turkish liras to boost the Turkish economy.

The ministry said in a statement that the investment will be in the fields of solar energy, defense and air industries, in four Turkish states: Ankara, Istanbul, Bursa and Adana.

"The amount of investment for the five projects under the incentive-based project system will create more than 3,000 new jobs, worth 14 billion Turkish liras," said Turkish Minister of Industry and Technology Mustafa Warank.

"Once these projects are implemented, they will contribute to reducing the foreign trade deficit by $1.4 billion a year," he said.

"The project support system, which has been in place since 2016, has so far supported 19 projects, worth nearly 40 billion Turkish liras," Warnick said.

"This huge investment, based on the government stimulus system, is part of Turkey's sustainable plans and is one of the most important files that the AKP has devoted a great deal of attention to since it took office in 2002."

The investment decision came into effect by publishing it in the Turkish Official Gazette on Thursday.