A recent decision by the Council of Ministers adds production of turbines and generators for use in renewable energy and production of wings to be used in wind energy as privileged investment areas. The change was introduced by Council of Ministers Decision Regarding the Change of State-Aid for Investments number 2015/8216 ("Change Decision"), published in Official Gazette number 29537 on 19 November 2015.
Privileged investment areas are outlined in the Council of Ministers Decision Regarding the State-Aid for Investments number 2012/3305 ("Decision"), published in Official Gazette number 28328 on 19 January 2012.
Turkey is divided to six regions with respect to investment aid, with each region benefiting from a different level of state support. Privileged investment areas are eligible to receive local aid determined for the fifth region. However, if investments are made in the sixth region, they will be subject to the aid for the region they are located (Article 17 of the Decision).
Please see this link for full text of the Change Decision (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.