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Turkey : Investment demand rises despite pandemic
Investment demand in 8 months of 2020 up by 30 % compared to last year , says Turkish industry minister
KOCAELI – Despite the coronavirus pandemic , Turkey ’ s investment demand followed a stronger course this January to August compared to the same period last year , the country ’ s industry and technology minister said recently . “ We supported the private sector ’ s fixed investments worth 127 billion liras ( over $ 16 billion ) with 6,296 incentive certificates ,” Mustafa Varank said in an online conference . The investment demand of the real sector in the first eight months of 2020 was up by 30 % compared to last year , he added . He said those investments , once completed , will provide job opportunities for 191,000 people . Pointing to the rise in orders , production , and capacity utilization rates in the manufacturing industry , Varank said the confidence of both consumers and producers in the economy has started to increase . “ Production increased in eight out of 10 sectors in September ,” he said , adding that the most striking aspect of latest data is the increase in speed of employment creation . “ Firms have seen the highest employment growth since February 2018 , along with increased orders ,” the minister said . “ We expect a strong growth rate in the third quarter since
Industry Minister Mustafa Varank
investment and production are on the rise , and by putting up a good performance , Turkey will get through this difficult year with minimum losses .”
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November 2020