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Turkey Safe Harbor For International Investors: Vice President

25.06.2021 12:27

Turkey signs cooperation agreement with Tatarstan, leading Russian petrochemical company Tatneft.

Offering a qualified workforce and inclusive support, Turkey is a safe harbor for international investors, the country's vice president said on Thursday.

Addressing a joint news conference next to visiting President of Tatarstan Rustam Minnikhanov in the capital Ankara, Fuat Oktay said Turkish economy displayed a "very successful performance" during the COVID-19 pandemic, highlighting that public and private sector investments have continued without slowdown.

"Turkey is a safe harbor for international investors with its competitive production structure, qualified workforce, strategic location, modern logistics infrastructure, and inclusive support and incentive programs," he said.

His remarks came following a signing ceremony where Turkey inked a cooperation deal with Tatarstan and an investment deal with Tatneft, a leading Russian petrochemical company.

The deal between Informatics Valley, a key Turkish technology ecosystem, and Tatarstan's Innopolis Special Economic Zone, is for cooperation on technology and science, Oktay said.

"Under this agreement, we will establish an incubation center in Innopolis, Tatarstan that will provide infrastructure, training, consultancy, and networking services to young entrepreneurs in the fields of mobility, information technologies and game development," he added.

Meanwhile, the memorandum of understanding signed with Tatneft includes support for a production facility that the Russian company plans to establish in Turkey, Oktay said.

"Like all other investments, Tatneft's maleic anhydride production facility planned to be established in Turkey is supported by our Ministry and benefits from the incentives," he stated.

The second deal with Tatneft is a preliminary protocol in the field of chemical industry signed with Gebze Organized Industrial Zone for the same investment, he elaborated.

Minnikhanov, for his part, said that many high-tech projects have been implemented in Turkey, adding: "We want the representatives of the Republic of Tatarstan, Russia's leading region, to take part in these projects."

"As a result of our two days of hard work, interesting projects have emerged involving both Turkey and Tatarstan," he added. -

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