The Turkish government is working on plans lo launch a new regional investment incentive system in 2011, Turkey's state minister for foreign trade said on Friday.

Zafer Caglayan said that the government had prepared 12 projects that specified sectors where Turkey could compete with other countries.

Turkish statistics authority, Turkstat, keeps regular development indices for Turkish provinces and regions, Caglayan said.

"It is not clear how many zones we will create under the new incentive system. We will launch a new system that repairs failures in the current one," Caglayan said.

"We will begin 2011 with the new incentive system," he stated.

Turkey's general investment incentive system provides tax benefits, loan possibilities, allocation of free land and social security premium support for employers. It is applied in diverse ways according to the location, scale, and subject of the investment.


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