The TL 135 billion ($33 billion) project-based investment incentive package announced Monday has reached a significant size, considering the TL 891 billion investment incentives granted from 2001 to February 2019, according to data from the Economy Ministry.
Since the investments under the super-incentive package of TL 135 billion, these investments have reached a noteworthy level compared to investments supported in the past 17 years.
*Investments in region 6 are eligible for income tax witholding allowance and social security premium support.
Of the TL 891 billion of supported investments in the past 17 years up to the super-incentive package, TL 621 billion was from domestic capital. The remaining TL 270 billion was from foreign capital.
In 17 years, 58,441 investments of domestic capital were supported while 3,252 investments of foreign capital were granted incentive certificates. Considering all the incentives granted over the past 17 years, additional employment created by these investments was 2.4 million.
Over past five years there has been a fluctuating course in the performance in investment amounts supported until 2018. The amount of investment supported in 2013 was TL 94.6 billion, which dropped to TL 64.3 billion in 2014. Exceeding TL 100 billion for the first time in 2015, it was TL 98.3 billion with a moderate decline in 2016, and TL 178.7 billion with a rapid increase in 2017. Looking at the past five years, 2017 had the fastest increase in incentives.
Manufacturing took the lion's share of the TL 891 billion investment incentives. According to the data, of TL 891 billion of investments, TL 300 billion was allocated to manufacturing, followed by services with TL 292.5 billion, energy with TL 259.9 billion, mining with TL 29 billion and agriculture with TL 9.3 billion.
Energy was at the top in terms of sectoral distribution in 2017. Accordingly, of TL 178.7 billion in investments, TL 101 billion was made in energy, followed by manufacturing with TL 39.9 billion, services with TL 32 billion, mining with TL 2.1 billion and agriculture with TL 2 billion.
Within a total investment of TL 178.7 billion in 2017, the largest investment went to CCN Laboratory with TL 1.6 billion, followed by Anateks with an investment of TL 307 million and Bien Yapı with TL 300 million.