TO BOOST INVESTMENT

Dunya Executive - - OVERVIEW -

b ll on as they are expected to boost exports by $6.3 b ll on and cut mports $12.3 b ll on.

The 19 Turk sh f rms to rece ve government support ncludes armored veh cle manufacturer BMC, da ry producer Sutas, polyester company SASA, av at on ndustry leader TUSAS, technology and appl ance manufacturer Vestel, and car producer Oyak Renault, the Economy M n stry announced. Four out of the 19 selected compan es w ll rece ve 75 percent of the total allocated government budget, amount ng to some TRY 101.3 b ll on ($25 b ll on), the m n stry added.

The largest payout w ll go to lead ng polyester producer Sasa – TRY 29.48 b ll on ($7.27 b ll on) - for two projects, the m n stry sa d. Appl ance manufacturer Vestel, m n ng company Tosyal , and energy company Metcap w ll rece ve TRY 28.4 b ll on ($7 b ll on), TRY 28 b ll on ($6.9 b ll on) and TRY 15.32 b ll on ($3.78 b ll on) respect vely, accord ng to the m n stry.

Nearly 170,000 jobs w ll be added to the economy w th a total of 23 nvestment projects. F ve of those alone w ll create around 68,000 jobs. Funds rang ng from TRY4.8 b ll on ($1.2 b ll on) to TRY 493 m ll on ($121.7 m ll on) w ll be awarded.

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