Türkiye targets global economic powerhouse status, investment offical says

Türkiye introduced sweeping tax incentives and AI initiatives to transform into a global economic powerhouse, the head of Türkiye's Investment and Finance Office said on Thursday.

Ahmet Burak Daglioglu outlined the country's strategic shift and new financial incentives during his speech at the technology event GITEX Ai Türkiye.

The global event, hosted by the Presidency of the Republic of Türkiye Investment Office and the Industry and Technology Ministry, opened its doors on Wednesday at the Istanbul Expo Center.

Anadolu Agency acts as the global communication partner for the event where startups, investors and tech giants gathered to expand into new markets and develop collaborations.

Daglioglu stated that international investors no longer perceived Türkiye merely as a bridge between Asia and Europe, but recognized it as a genuine manufacturing, logistics and research hub.

He emphasized that an advantageous geographic location, abundant funding and available talent transformed the country into a primary startup center for surrounding regions.

The president noted that the state heavily invested in infrastructure under the leadership of President Recep Tayyip Erdogan to prepare the highly industrialized nation for artificial intelligence adoption and maintain its competitive edge for the upcoming two decades.

Highlighting recent economic reforms, Daglioglu announced a 0% corporate income tax rate for all types of service exports.

He explained that multinational technology corporations establishing global business centers in Istanbul qualified for full corporate income tax exemptions alongside specific individual income tax benefits.

Daglioglu added that a new non-domicile program exempted foreign earnings from taxes for 20 years and reduced inheritance tax to just 1% for wealthy individuals moving their assets to Türkiye.

The investment chief mentioned that the government clarified regulations regarding employee stock option plans and convertible instruments to facilitate easier fundraising rounds for startups.

He concluded his remarks by thanking the organizers and describing the nation as a resilient, fast-growing economy fully supportive of international investors.