A regional incentive program, coordinated by the Industry and Technology Ministry, is expected to contribute to a number of sectors across Türkiye's Mediterranean region, from defense to tourism, according to a report on Thursday.
Under the "Local Development Initiative Incentive Program," investments in many fields, such as the establishment of a gold refinery and the production of components for the defense industry, as well as aviation and space-related sectors, in provinces across the Mediterranean region will be supported, a report by Anadolu Agency (AA) said.
The Local Development Initiative Incentive Program has been designed to be goal-oriented, selective and aligned with investors’ expectations.
Within the framework of the program coordinated by the ministry, support will be provided to utilize the geographical potential and idle resources of eight cities in the Mediterranean region, develop sectors not currently present in the region but with high success potential, and increase local employment.
The program will offer various incentives for investments in designated areas, depending on their size, ranging from tax reductions and insurance premium support to interest or profit-share contributions, land allocation for investment, and income tax exemptions.
The program foresees up to TL 301 million (around $6.7 million) in cash support for each investment, along with tax reductions of up to 50% of the investment value. Accordingly, within this scope, investment support is set to be provided to various sectors across the Mediterranean region.
Sports, health tourism
As part of the support program aimed at increasing industrial and production capacity, incentives in Adana will be directed toward the production of starch-based chemical derivatives and high-value-added products, aquaculture production and processing facilities, value-added production from agricultural products and waste, and the production of cleaning chemicals.
In Antalya, known as a "tourism paradise,” support will focus on the production of value-added products from medicinal and aromatic plants, high-tech products used in greenhouse and vertical farming, investments in iconic architecture and cultural industries, as well as projects related to sports and health tourism.
In Burdur, support will be provided for value-added production from wood and forest products, integrated breeding of high-genetic-quality cattle, the utilization of marble waste, and industrial dairy production.
In Hatay, referred to as the "City of Civilizations,” support will aim to boost sectors such as footwear and furniture sub-industries, advanced metal production, and seafood processing.
Gold refinery in Kahramanmaraş, iron and steel in Osmaniye
In Isparta, incentives will support the production of cosmetics and food supplements derived from rose and other medicinal aromatic plant extracts, mushroom compost and integrated mushroom processing facilities, value-added production from fruits and their waste, and investments in smart agriculture technologies.
In Kahramanmaraş, priority will be given to the establishment of a gold refinery, integrated aquaculture production and processing facilities, manufacturing for the aviation and space industry, as well as technical textiles and functional fabric production.
In Mersin, incentives will promote value-added production from legumes, metal and structural component manufacturing for the defense industry, the utilization of agricultural waste, and the production of modern and smart greenhouse systems.
In Osmaniye, support will primarily focus on the establishment of integrated greenhouse facilities, steel-based value-added production, recycling facilities for the iron and steel sector, and value-added production from agricultural products and waste.
The aim of these supports is to accelerate regional development, increase employment, and encourage high-value-added production across eight provinces in the Mediterranean region.