Unavailable Textile Machinery Will Be recoverabled to Economy
A new regulation has been made in order to make the machines which are idle in the textile sector operational. Industry and Technology Minister Mustafa Varank, said the new application will increase the rate of employment further.
According to a statement from the Ministry of Industry and Technology, the Ministry has taken an important step in order to make more efficient use of the existing machinery capacity in the textile sector.
In this context, the Decision on State Aid in Investments was amended in order to make the machines that are unexploited become operational. The President’s decision regarding this was published in the Official Gazette.
Minister of Industry and Technology, Mustafa Varank, about this regulation, “With our investment incentives, we provide employment in developing cities such as Şanlıurfa, Van, Batman and Malatya, especially in the textile sector. We will further increase the employment rate with the new application. We will ensure that investors produce innovative products and capture new export markets by renewing the existing facilities.” said.
Supporting both the national economy and employment
According to the new regulation; the machineries and equipments provided for investments in the garment, leather and leather products sectors realized in provinces in the first and second regions in the incentive application will be able to benefit from employment support if they are moved to 34 cities specified in the decision. For this, the company’ will have to employ at least 100 people.
If investors maintain their employment in the provinces of the first and second regions, the incentive periods will be applied twice as much.
In the first and second region provinces, the incentives previously given for investments in capacity increase in the textile sector will now be offered to investments from scratch.
It will continue until the end of next year
These applications, which will be valid until the end of 2020, aim to bring the old machines back into production and to create employment, as well as accelerate the modernization investments and value added production in the existing facilities.
Arrangement involves these cities; Elazig, Erzincan, Malatya, Sivas, Bayburt, Cankiri, Erzurum, Giresun, Gumushane, Kahramanmaras, Kilis, Nigde, Ordu, Osmaniye, Sinop, Tokat, Tunceli, Yozgat, Adiyaman, Agri, Ardahan, Batman, Bingol, Bitlis, Diyarbakir, Hakkari, Igdir, Kars, Mardin, Mus, Siirt, Sanliurfa, Sirnak and Van.