Investment incentive certificates issued by the Industry and Technology Ministry in March paved the way for a TL 18 billion ($2.51 billion) investment, which could create up to 27,000 employment opportunities, Industry and Technology Minister Mustafa Varank said Wednesday.

Noting on Twitter that the forecasted employment and fixed investments in the first quarter of this year increased compared to last year, Varank said, "We will strengthen our hand with new investments and increase our competitiveness in the transition to the new normal."

Varank also shared an infographic regarding investment incentive certificates. According to the numbers, 9,652 people were employed in the companies with completion visas issued with 316 investment incentive certificates worth a fixed investment amount of TL 9.9 billion. In the same period, the employment of 27,552 people was envisaged by putting 816 new investments incentive certificates worth TL 18 billion into practice.

A completion visa is issued for companies benefiting from incentives when they inform the ministry that their investments are realized.

With these numbers, in the first quarter of this year, there was an increase of 111% in the number of investment incentive certificates, 72% in projected employment and 19% in fixed investment.

Some 70% of investments with completion visas were carried out in the services sector, 24% in manufacturing, 4% in energy, and others made in agriculture and mining sectors. While 60% of the investment incentive certificates were issued for manufacturing, 26% were for energy, 9% for services and 5% for the agriculture and mining sectors.