Previously famous as the Investment and Promotion Agency of Turkey, Turkey’s Investment Office was rebranded under the governance system of the President which came into force after 24th June last year. TIO has boosted efforts for easing the bureaucratic processes for foreign, as well as, local investors. Therefore, the initiatives by the latest investment office are inclusive of investment coordination units in every ministry which has engagement with the investors during the processes of investment. These units will be receiving requests for licenses, permits, as well as, other required documents. They will be then coordinating all the related procedures, as per the statement of Arda Ermut from the Investment Office.
During an assessment of the investment environment of Turkey and tech investments in the country, it was stressed by Ermut that the top priority for the office is the technology investments,
In an evaluation of the Turkish investment environment and technology investments in the country, Ermut stressed that technology investments are the top priority for the office, quoting the numerous political, as well as, practical steps were taken by Turkey for the enhancement of such investments.
Emut gave an indication of a number of regulations, inclusive of the incentive schemes and legislative amendments which have so far have been implemented in line with the Industry and Tech Ministry, as well as, all other stakeholders. He also stressed that incentives which were provided for the projects regarding research and development have been updated according to the expectations of the investors.
He added that Turkey’s market of info and communication was TL 113.8 billion two years back, growing to TL 131.7 billion in 2018, which is an increase of 15 percent.