Turkey approves new investment incentives: PM

By Gokhan Ergocun

ANKARA (AA) - Prime Minister Binali Yildirim announced on Wednesday that strategic investment incentives worth 128 billion Turkish liras ($32 billion) have been approved.

"We will share it in the coming days," he said at the Coordination Committee for the Improvement of the Investment Environment 2017-2018 Reforms Publicity in capital Ankara.

The reforms will simplify the process of establishing companies, conducting research, development and design activities, and bringing in investments, Yildirim said.

He added that reducing red tape will make the country more profitable.

In his remarks, the prime minister said by the end of this year, all affairs between the state and citizens will take place through an online portal e-Devlet.

Businesses were no longer allowed to apply for suspension of bankruptcy, he said, to prevent its misuse.

"Instead we developed a mechanism to recover companies," Yildirim added.

Speaking about internet penetration, he said, Turkey had reached the EU internet access average.