TO BOOST INVESTMENT

Dünya 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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