[Announced] Government envisaged support for energy and clean energy technology sectors
In January 2024, the Presidency of The Republic of Turkiye's Investment Office updated their investment incentives for different areas including priority investments including:
- Mine extraction and processing investment
- Renewable energy components manufacturing including turbines, generators, solar panels and wind blades
- Motor parts investments
- Electricity generation investments with coal-based minerals
- Energy efficiency investments in existing industry facilities
- Liquefied natural gas (LNG) investments and underground natural gas storage investments
- Electricity generation investments from waste heat recovery
- Mineral exploration investments
- Greenhouse investments, including domestically produced greenhouse technologies based on automation
- Nuclear power plant investments
- Manufacturing of software and IT products
The incentives included VAT Exemption for machinery, construction, customs duty exemption, corporate tax reduction, social security premium support, and interest rate support, with a total support rate that could reach 88.6% of the investment input based on the modelled scenario.
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