Land costs to decrease in organized industrial zones

Published 16.10.2017 23:49

Having determines appropriate areas for organized industrial zones (OIZ), industrial zones, technology development zones, free zones and industrial sites in advance and to design infrastructure, the Science, Industry and Technology Ministry completed the 18-Article Draft Regulation under the Production Reform Package and submitted it to relevant institutions and organizations.

With the regulation, the land selection process will be shortened, land costs will be reduced, alternate areas will be determined, bureaucracy will be minimized, long-term planning for industry will be ensured and environment, agriculture and industry will be coordinated.

The Investment Coordination Board will be commissioned with the regulation, and the representation of the institutions on the board at the level of undersecretaries will ensure that decisions are made quickly and investments realized with speed. Following the publication of the regulation, the registration period of 54 working days for OIZs to be established in to-be-determined investment areas will be reduced to one day.

The need for investment areas is growing rapidly within the framework of meeting Turkey's growing industrial potential. In this context, the government attaches great importance to the coordination of planned new industrial areas with the environment, agriculture and ecological systems. In order for Turkey to reach the government's 2023 targets, the production reform package, which was introduced by Science, Industry and Technology Minister Faruk Özlü, who said that the package will benefit the country. It includes many regulations such as improving the investment environment, ensuring planned industrialization, reducing the financial burden of investors and introducing new incentives. It entered into force on July 1, 2017.

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