NEWS & INSIGHTS

Another Novelty in Turkish Organized Industrial Zones (OIZs) Practice: Ordnance OIZs Underway

In accordance with the Law No:4562, which portrays an investor-friendly picture by conferring powers and privileges on the Turkish OIZs; it is evaluated that Ordnance OIZs, a specialized OIZ, will take one-stop shop position of OIZs to a better and farther position.
Abdülkadir Güzeloğlu

For Turkey's first Ordnance OIZ, which is to be located and built on 500 acres of land in Kırıkkale, among the most important cities in the nation’s ordnance and weapon production establishment, land allocations procedures have been initiated pursuant to Law No:4562 on Organized Industrial Zones.

As the current financial capacity of the Ordnance OIZ eyes to a TRY 20.000.000 threshold, investing entrepreneurs may benefit from incentive scheme that is attached as 5th region, despite the said land which possessed by the Mechanical and Chemical Industry Company is located in the 4th region incentive scheme. In this perspective, it is safe to say that channeling investment into Ordnance OIZ will definitely benefit from a more generous structure that will increase appetite of the prospective investors.

Taking into account that the uniqueness of legal, practical and business nature of Turkish OIZ practice which sets standard in global industrial application practice; a specialized Organized Industry Zone dedicated to the defense industry which Turkish public and private sector actors have made undeniably huge progress, will certainly solidify increasingly competitive position of the Turkish defense industry in the global market.

In accordance with the Law No:4562, which portrays an investor-friendly picture by conferring powers and privileges on the Turkish OIZs; it is evaluated that Ordnance OIZs, a specialized OIZ, will take one-stop shop position of OIZs to a better and farther position.

 Should you have any questions or inquiries Law No: 4562 on Organized Industrial Zones, Turkish investment legislation, incentives provided to investors or setting up business within a Turkish Organized Industrial Zone, please do not hesitate to contact us at info@guzeloglu.legal.
Author: Abdülkadir Güzeloğlu
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