Baby & Kid Store November 2020

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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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