Turkey achieved substantial economic growth within the vision of 2023, which was announced by the Turkish president through a group of Turkish megaprojects, as the growth of the Turkish economy reached 21.7 percent in the second quarter of 2021 and is expected to rise by 9% by the end of the year, This confirms that despite the global economic downturn due to the Coronavirus, Turkey is continuing its economic growth and leadership among the twenty countries.
As part of the 2023 vision, Turkish President Recep Tayyip Erdogan announced in early 2009 the construction of one of the world's most important financial trading centers in Istanbul, in its Asian section in Ataşehir municipality, which will open in the next year 2022.
The Istanbul international financial center (IFC)
When the IFC project is done BY 2022, over 30,000 people are predicted to be operated. the IFC is Constructed on an area of 2.5 million M2, 560,000 M2 are office space, 90,000 M2 of
A shopping area, 70,000 M2 of hotel spots, 60,000 M2 of residential units, and a culture clubs and congress center with a capacity of 2,000 people.
A Fresh new destination of foreign investment in Turkey:
Among the most important things that the Turkish President mentioned is that the city will be a new destination for foreign investment in Turkey and foreign investors, especially for those interested in Islamic banking, whether from East Asian countries, or the Arabian Gulf region and other similar interests countries, The International Financial City will work to provide Islamic banking service. In the context of this decision, the Turkish President announced that Islamic banking will be based on a package of decisions and will be based on a suitable legal structure.
In addition, Turkey is now preparing to issue a set of new decisions that will attract more foreign investors to Turkey by adding laws that facilitate the injection of money into Turkey, among these decisions: tax exemption from value-added tax(VAT), tax reduction, exemption from customs tax and the allocation of areas for investment. TO READ MORE, CLICK HERE