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Agricultural investment in Turkey and facilities available to foreign investors

Agricultural investment in Turkey and facilities available to foreign investors

Foreign Investment in Turkey's Agricultural Sector "Constituents and Incentives"
Over the past years, Turkey has made qualitative leapfrogging in the agricultural field with a vibrant economy, and has advanced positions at both the European and global levels. It is one of the largest exporters of agricultural products in Eastern Europe and the Middle East and North Africa (MENA) region.

Turkey is a leading country in the production of figs, nuts, raisins, dried apricots, honey, grains, fruits and vegetables, and more than one thousand and six hundred varieties of Turkish agricultural products, invading the markets of 180 countries around the world. :

1. Investment in grain plantations and crops.

2 - Investment in vegetable farms of all kinds.

3 - Investment in fruit plantation, and production of spices.

4 - Investment in flower farms and ornamental plants.

5. Investment in animal farms (raising sheep, cattle, etc.)

It includes the production of meat or dairy products.

6 - Investment in poultry farms, including meat production, and production of eggs ..

7 - Agricultural investment in the production of natural honey.

8. Investment in fisheries fishing establishments.

The financial contribution of the agricultural sector to total GDP increased by 40% from 2002 to 2016, reaching US $ 52.3 billion in 2016.

The foreign investments in the agricultural sector and the purchase of agricultural land in Turkey has increased significantly during the recent period. The country is a fertile environment that attracts foreign investments in the agricultural sector for the following factors:

Climate, abundance of water and multiple sources.

The number of arable land which represents 50% of the Turkish land. Over the past years, the government has rehabilitated about 5 million 600 thousand hectares during the period 2003-2017. It will reclaim 800 thousand hectares during this year while reclaiming 9.7 million hectares during the period 2018-2023.

The availability of human resources, where the agricultural sector attracts about 25% of Turkish labor.

Government support for the agricultural sector, investment incentives, and opening of foreign investment to benefit from foreign capital in the continuation of the development of agricultural production, in addition to the size and openness of the market.

The Foreign Investments Act guarantees equality in the treatment of all investors without discrimination between international and domestic investors, as well as enabling all international investors to enter Turkey without having to obtain an initial license application, freely transferring profits, entering and owning the real estate market, Property, as well as expatriate employment.

IPARD encourages the authorities to invest agricultural land to exploit vast areas of arable land, with fertile land, abundant water and facilities.

It also provides significant investment opportunities in agricultural secondary sectors such as commercial agribusiness, fruit and vegetable packing, animal feed, livestock, poultry, dairy products, functional foods, aquaculture, and auxiliary factors such as cold chain, irrigation and fertilizers.

Government support in these projects is a material return paid to the investor for the establishment of the project. The following general conditions and requirements must be met for the implementation of the subsidy program:

The establishment of a regular limited company with a capital of not less than LE 100,000 and the registration of the project on behalf of the company. Government approval will not be obtained if the project is not registered on behalf of the company.

Purchase of agricultural land area of ??10,000 square meters, and registered on behalf of the company, note that the least area within the program of government support is 10 acres and more, and must be the location of land within the cities defined by the state.

Conduct a feasibility study for the project, approved by consulting offices within a period of five years, to complete the application for the government support program.

There are some work required to implement the project, including:

Extend the power cable from the main station to the ground site on which the project is built.

Extension of water lines / drilling of underground wells within the boundaries of the land.

The above items are covered by the government subsidy program at a rate of 70% based on the invoices submitted to the state and the expenditure should not exceed 1,000,000 Turkish lira.

GCC nationals are prominent among foreign investors in the Turkish agricultural sector, with investments in Saudi Arabia, Qatar and Bahrain increasing

The sales of agricultural land to foreigners are concentrated in the governorates of Mugla, Nivezhir, Istanbul, Djinn Qal'a, Bursa, Burdur, Polo, Pelagic, Ankara, Antalya, Aydin, Skaria, Trabzon, Yalova and Yuzgat.

198 million, 962,000 and 54 Dakar (10 Dakar worth 1 hectare) are used for cultivation of cereals and other agricultural crops, and 8 million 41,000 and 439 acres are used as agricultural fields for vegetable production, and 32 million, 378 thousand and 133 acres Of the area in the production of fruits and spices, while using 48 thousand and 909 Dakar in the production of ornamental plants.

Konya is Turkey's largest city in terms of agricultural area, estimated at 19 million and 106 thousand 386 Dakar, while Yalova is the smallest city in Turkey in terms of agricultural area, estimated at 329 thousand and 599 Dakar.

Turkey aims to be among the world's top five producing countries as part of its planned agricultural sector targets by 2023, which includes access to agricultural GDP of $ 150 billion, $ 40 billion for agricultural exports, 8.5 million hectares Of the area of ??irrigable areas (from 5.4 million hectares), and ranked first in the fisheries classification compared with the Union