Trade Minister Ruhsar Pekcan on Wednesday confirmed that they have completed preparations to support Turkish brands in the service sector as part of the Turquality program.
“Our brands in the service sector will be supported for five years in each new market they enter. We'll also provide support for the development of corporate infrastructure in the first five years,” Pekcan said on Twitter.
She added that the support will be provided on a “target market” principle.
The statements came after a presidential decision on branding support in foreign currency earning service sectors was published in the Official Gazette.
Touching upon the effects of the support in the current account balance, Pekcan said the system will prepare a groundwork for Turkish brands to be active in more sectors and become a permanent player in these markets.
"Thus, our country’s revenues from services will increase sustainably, and the contribution of the service sectors to the current account balance will continue in a positive trend," she said.
The Turkish government program, Turquality, supports firms that aim to become international brands with cost incentives for branding, education, advertising and consultancy.
As part of the program, the expenses of the brands, including the ministry-approved product and service registration fees in the countries that they have decided to operate in, as well as training, consultancy, certification costs related to the documents and certificates that provide an advantage in entering the market will be supported up to 50% by the Trade Ministry. The program also covers costs of up to five cooks/chefs, interpreters, software developers, engineers and interpreters for health institutions to be employed by companies; the advertising, promotion and marketing expenses approved by the ministry; rent expenses for stores, restaurants, cafes, warehouses as well as municipal expenses, and legal counseling costs of the companies.