Facilities for Saudi investors in Turkey
The Turkish government has unveiled incentives for Saudi Arabia's livestock investments in Diyarbakir and Chaneli Urfa, which will provide € 1.5 million in investment to the tune of 3 million euros, provided that the operation lasts for five years.
It also announced the provision of agricultural land in industrial areas free of charge to investors.
The meeting was attended by more than 45 businessmen representing the Chambers of Commerce and Industry in Riyadh, Jeddah, Sharqiyah and Tabuk.
The Chief Advisor of the Agency for Support and Investment Promotion of the Prime Minister of Turkey, Dr. "Mustafa Kokso" opportunities for investment in the agricultural sector and livestock.
He pointed out that the Turkish Republic has given investors many advantages for investment, including exemption from customs duties and exemption from value added tax, tax reduction, support social security installments for the employer and employees, as well as the allocation of land.
He pointed out that Saudi Arabia and Turkey have been growing rapidly in recent years. "One of the most important reasons for investing in Turkey is that it is the largest economy in Turkey. In the region at a growth rate of 5% in the last 10 years. "
Last month, a Turkish official said that the decision to grant the right of ownership to foreign investors in Turkey in 2012, has increased the number of Saudi companies to more than 90 times than in 2011.
"The number of Saudi companies in Turkey reached only 11 companies before 2011, and increased in 2016 to 907 companies," said Mustafa Kokso, senior adviser to the Investment Promotion and Promotion Agency of the Turkish Prime Minister.
In 2011, the Turkish government approved a law allowing foreigners to own land on concessional terms, which led to a boom in trade and economy in subsequent years.
The Kingdom of Saudi Arabia was ranked 12th among the countries investing in Turkey in all sectors. The volume of trade between the two countries reached 6 billion dollars, amid expectations of raising to 10 billion in the next few years.
The relations between Saudi Arabia and Turkey during the reign of King "Salman bin Abdul Aziz" remarkable growth, especially with the consensus of the views of the two countries on regional issues, especially in Syria and Yemen.
