Economic aid package worth TL 35B set for Turkey's east

The Turkish government's 300-page, TL 35 billion ($12.1 billion) economic aid package regarding the operation of factories with "guarantee of purchase" in underdeveloped provinces will be announced on Monday. Deputy Prime Minister Mehmet Şimşek said the Economic Coordination Board (EKK) would come together to finalize the package and the Prime Minister would announce it to the public on Monday.

The package indicates that a majority of the state's needs such as textiles, stationary and food will be provided by the factories, which are set to be built in the eastern and southeastern Anatolian regions for a certain period. According to the Hürriyet daily, Deputy Prime Minister Şimşek said the preliminary work for the incentive and social aid package prepared for the areas were completed and four separate attraction centers would be built in the said regions.

Belief in Turkey grows

Speaking to reporters at the Independence Day reception organized by the U.S. Embassy in Ankara, Şimşek said 2015 was a tough year in terms of attracting foreign investors. "Two things should be put separately. One of them is direct global investment. The previous year's investment was tough. Turkey attracted investments worth $16.8 billion. This is a really great accomplishment. This is partially the world's economy's risk appetite, but it also reflects the trust and belief in Turkey," Şimşek said.

Stressing that this issue had another dimension in terms of portfolio investment, Şimşek said the previous year was tough from that point of view as well, but there was recovery this year.

According to Şimşek, the first two months saw the risk appetite towards the emerging countries globally decreasing and the volatility in the markets increased, but it is in the past now. Indicating the current recovery in the risk appetite and the increasing interest in Turkey, Şimşek said this also showed itself in the pricing in the markets. There was a serious improvement in the risk appetite, investors' interest in Turkey, he said, also adding that Turkey's performance would improve.