WHY INVEST IN BIOTECHNOLOGY VALLEY?
Today, innovative companies that carry out R&D in the field of biotechnology and produce projects in this field will continue to exist in the future. Companies will have many important advantages such as a strong infrastructure, sectoral synergy, quality employment, incentives, and the geographical advantages of the valley.
ECOSYSTEM WITH STRONG INFRASTRUCTURE
Biotechnology Valley is being established in Istanbul. Istanbul is a strategic gateway connecting Asia and Europe in terms of logistics. Biotechnology Valley is close to Europe, Middle East, North Africa (Mena), Central Asia countries. It is located in an important geography in terms of logistics.
Biotechnology Valley is located approximately 25 kilometres from Istanbul Sabiha Gökçen Airport. Biotechnology Valley is an ideal management centre for multinational companies as a production and export centre.
INVESTMENTS ARE ENCOURAGED
Turkey's intensive incentive mechanisms with the reforms it has realised It enables the Biotechnology Valley to become an important centre of production and exports.
Since the Biotechnology Valley is a specialised zone, it is subject to special laws such as tax reductions and exemptions. Special production, R&D and innovation incentives are offered to companies.
Special incentive areas are also supported as technology development zones. Tax advantages and training support are also provided to encourage employment.
INTERNATIONAL INVESTMENTS SECURED
The Foreign Direct Investment Law also guarantees international investments. International investors are protected by FDI laws. In 90 countries, bilateral investment protection agreements and double taxation avoidance agreements have been concluded. Turkey also ranks high in the international tax competitiveness index.
CUSTOMS UNION AND FREE TRADE ZONE AGREEMENTS
Turkey has a Customs Union agreement with the EU. This free trade agreement provides direct access to the European market. Turkey also has Free Trade Area Agreements (FTA) with 30 countries.
COUNTRY PARTY TO PARIS AGREEMENT
Turkey is also a party to the Paris Agreement on climate change mitigation, adaptation and financing under the United Nations Framework Convention on Climate Change. Turkey participates in international studies on environment.
TURKEY'S GROWING ECONOMY
The International Monetary Fund (IMF) announced that Turkey ranked 11th in 2023 according to Purchasing Power Parity (PPP). IMF predicts that Turkey will enter the top 10 in national income according to PPP in 2027.
Turkey, whose economy has grown 5 times in the last 21 years, continued to expand in 2023. Thanks to its vibrant domestic market and entrepreneurial private sector investments, it grew by 5.7 per cent in 2023.
Turkey has a population of 85,372,377 according to 2023 TurkStat data. With its young and dynamic population, its wide employment opportunities constitute one of the dynamos of economic growth.
Turkey's exports have grown 7 times in the last 20 years. According to the data of the Turkish Exporters Assembly (TIM), Turkey realised exports of 255.8 billion dollars in 2023.
Turkey will continue sustainable growth in exports with the Biotechnology Valley.