Incentives totaling TL 128 billion ($31.63 billion) for 23 projects, as previously conveyed by Prime Minister Binali Yıldırım, are planned to be announced by President Recep Tayyip Erdoğan today at the Beştepe Presidential Palace Complex.

The incentives for projects in seven sectors including energy, petrochemicals, health, telecommunications and mining will be announced at a ceremony, which has already been postponed twice.

Petrochemicals will lead the way in the said projects, while additional projects will also be supported in the fields of medicine, agriculture and health.

Speaking at Introductory Meeting of the Coordination Board for the Improvement of Investment Environment (YOIKK) on March 28, Prime Minister Yıldırım said they approved the new strategic investment incentive of TL 128 billion.

Yıldırım also recalled that the government has prepared a comprehensive action plan on the economy this year as they did last year.

In the project-based incentive model, the government has enabled the use of a series of incentives, from land allocation to purchase guarantees, in line with the nature of the investment.

The projects to be supported will be selected by the Economy Ministry and the Council of Ministers. The aim of this is to reduce Turkey's foreign trade deficit, provide advanced technology and enable industry or the economy to steadily continue to grow.