12 October 2008
The Turkish government has prepared its action plan to provide support for the textile, ready-to-wear and leather sectors and included 28 additional measures drafted to give companies in the sector greater competitiveness. Turkish Industry Minister Zafer Caglayan announced at a press conference in Ankara Strategic Action Plan for Textile, Ready-to-Wear and Leather Sectors. Manufacturers with a minimum of 30 employees would benefit from 50 percent energy support, value added tax (VAT)-exemption, customs tax exemption, interest support, discount at social security premiums, corporation tax discount, allocation of investment land, and zero-interest credit if they move from developed regions to priority regions for development. The incentives package will be made available from 2009 until 2014, he added.