Turkey: Investment demand 25% higher in 2020

By Aysu Bicer

ANKARA (AA) - In 2020, investment demand in Turkey was 25% higher compared to 2019 and it will be much higher this year with the government's reform agenda, said the technology and industry minister on Friday.

Mustafa Varank on Twitter noted that of the investments to be made within the scope of the incentive certificates issued in December 2020, 73.4% were in manufacturing, 13.2% in services, 9.4% in energy, 2.1% in agriculture and 1.9% in the mining sector.

The Industry and Technology Ministry gave incentive certificates to 1,181 projects in December 2020 for investments worth over 28.1 billion Turkish liras ($3.8 billion).

Over 29,300 people are expected to be employed in those projects when completed, according to the ministry.

The amount of investments by the companies whose projects got the completion certificates was over 7.2 billion Turkish liras ($1 billion) in December 2020.

The number of people employed in those companies was 10,731.