Attraction Centers program nears completion

ANADOLU AGENCY
ANKARA
Published

Deputy Prime Minister Lütfi Elvan said that the Development Bank has almost completed its work on the Centers of Attraction program. "Hopefully the prime minister will announce the results soon and we will begin supporting our companies within the scope of the Centers of Attraction program," he said.

Elvan said that 3,380 firms have applied for the program, adding that $92 billion of investments and 365,000 jobs are foreseen as part of the project. Elvan said that issues such as the evaluation of applicant companies, which investments are prioritized for in terms of the structure of the 23 provinces in the program and whether the firms have experience in the field of investment they have offered, are under assessment.

Pointing out that the Development Bank has almost completed its work on the project, Elvan said that they will also support a group of companies in the first quarter of 2018, apart from those supported in the first phase.

Elvan stressed the importance of the program in terms of reducing the gaps in development between regions, saying that among the applicants are also large foreign firms. Noting that some companies investing in high-tech have also applied to the program, Elvan said: "This is an important indicator of how solid the ground on which the Turkish economy was founded."

Covering 23 provinces in eastern and southeastern Anatolia, the program provides zero-interest loans and business loans with reduced interest rates for investments. In addition to those who want to build new production facilities, renew their production facilities or improve their business, those who apply to set up a call and data center are also supported. The minimum investment amount required to benefit from factory investments was set at TL 2 million ($564,493) and must guarantee employment for at least 30 people.

Companies to open call centers are also required to guarantee employment of at least 200 people and present them with a service contract.

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