A Revolutionary Step in Local Development

Minister Kacır, in his post on social media, stated that a revolutionary step had been taken for local development and made the following statement:

We are implementing the Local Development Incentive Program to activate the potential of our 81 provinces, reduce regional development disparities, and integrate each province into our development mobilization. With the implementation communiqués published in the Official Gazette, we have identified four priority investment areas for each of our cities. By supporting investments in these areas, we are accelerating a comprehensive development initiative across the country. With this program, which we will implement through our Development Agencies, we will specialize our cities, create new employment opportunities, encourage production, and raise the socio-economic development level of our provinces. The Turkish Century will be the century of development and prosperity.

In the post, it was noted that the "Local Development Initiative Program" aims to reduce development disparities between regions and increase the competitiveness of regions.

The post emphasized that the aim is to increase the socioeconomic development level of the provinces, utilize geographical potential and idle resources, meet local needs, develop sectors with a high probability of success but no production in the region, support the forward-backward connections of existing sectors, and increase local employment by creating clusters. The following information was included:

The support will be provided in the form of cash support of 15 percent of the investment amount and up to 240 million Turkish Lira or interest/dividend support of 20 percent of the investment amount and up to 240 million Turkish Lira, a 50 percent investment contribution rate, VAT exemption, investment site allocation, customs duty exemption, employer share of insurance premium support (12 years in the 6th region, 8 years in other regions), and employee share of insurance premium support (in the provinces of the 6th region). Implementation, monitoring, and evaluation will be carried out through 26 development agencies under the coordination of the General Directorate of Development Agencies.

Tags: Minister of Industry and Technology Mehmet Fatih Kacır