German health giant Synlab to set up lab in Turkey

Published 21.08.2017 00:00

The anti-Turkey campaigns of German politicians do not work when it comes to investors. Immediately after German Chancellor Angela Merkel's announcement to suspend Turkey-EU talks about updating a Customs Union deal last week, a German firm announced their investment plans for Turkey. German health giant Synlab, which operates in 38 countries, will make Turkey its hub with an advanced technology laboratory complex to be set up in Istanbul.

Synlab Turkey Representative İlker Kütükoğlu noted that the company plans to open a complex laboratory for Middle Eastern, African and Eastern Balkan countries and that they are currently searching for an appropriate location. "We decided to invest in Istanbul thanks to the state incentives. We can even conduct tests of Italy, Spain and Germany due to the reasonable prices. A large investment will be made," Kütükoğlu said.

Kütükoğlu pointed out that in all of Europe tests for metabolic diseases in children are only carried out in Germany. "The waiting period to get results is prolonged due to density. In addition, a large number of tests, which are not carried out in Turkey but sent to Germany, will be conducted in Istanbul," he added.

The Ministry of Economy has paved the way for companies that invest in laboratories to benefit from fifth region support. Discounted corporate tax is applied to the investor to make investments in this field with an investment contribution rate of 40 percent. Employer's national insurance contributions is given for seven years, while interest support, customs duty and VAT exemption are also provided.

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