The sudden changes and the instability of the foreign exchange trends have put a strain on the Turkish economy, therefore on the companies operating here, which is why two of the most important ministries in the country have announced new measures which will help businesses. The Ministry for Finance and the Ministry for Industry and Technology have announced an action plan through which Turkish companies would be defended from external pressures. You can rely on our local consultants if you need company formation services in Turkey.
Most Turkish companies have contracted a credit under one form or another at a certain point, and these are the businesses which suffer the most from the market volatility, which is why the two ministries for industry and finance have decided to work together with banks and ease the credit conditions.
Among these measures, the ministries representatives have announced that Turkish banks will keep credit and overdraft channels open and will even ease the price and period conditions for companies accessing them, despite the increased exchange rates.
Our company registration agents in Turkey can offer more information on the banking system.
The Ministry for Industry has also announced a new set of measures through which small and medium-sized companies, industrial companies and single entrepreneurs will benefit from support. The new package will contain a set of 16 measures which will respect the fiscal policies designed by the government and which will not put any pressure on the state budget.
Among these measures are:
The Turkish government also wants to create several technology development zones which will host 500 projects and for which it will allocate 80 million USD.
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