ANNOUNCEMENT ON THE LOCAL DEVELOPMENT IMPACT PROJECT ANNOUNCED BY THE ISTANBUL DEVELOPMENT AGENCY
Dear Members,
In a letter numbered 27429 and dated August 14, 2025, sent to our Association by the Istanbul Development Agency, it was announced that:
Decree No. 9903 on State Aid for Investments has introduced comprehensive changes to the investment incentive system in our country, and a Local Development Initiative Program has been developed in collaboration with the Ministry of Industry and Technology of the Republic of Türikiye and development agencies.
The investment areas identified for Istanbul are listed below:
-Design, Fashion, and Creative Production Workshop Investments: Fashion design, production, innovation, and prototyping centers, design campuses, centers combining craft and digital design, etc.
-Emblematic Architectural Investments: Iconic and symbolic architectural projects that give the city its identity, etc.
Audiovisual Production and Studio Infrastructure Investments: Film/TV production sets, post-production, animation, and VFX studios, digital twin libraries, game studios, etc.
Qualified Cultural Industries Investments: Art banks, museums, performing arts performance centers, multidisciplinary cultural/event complexes, exhibition centers, etc.
Incentives such as cash support of 15% of the fixed investment amount and up to 240 million TL, or interest/dividend support of 20% of the investment amount and up to 240 million TL, as well as VAT exemptions, customs duty exemptions, tax reductions, insurance premium support, and investment site allocation are expected to reduce investment costs, ease the financing burden, and thus facilitate the implementation of new investments.
The Local Development Initiative Program, which opened for applications on August 1, 2025, has been closed on September 30, 2025. All detailed information regarding the Local Development Initiative call guide, support elements offered to investors, application requirements, and the program calendar can be accessed through the program website at https://yerelkalkinmahamlesi.sanayi.gov.tr/ and the announcement page on www.istka.org.tr. The Local Development Initiative Program Istanbul Promotion Webinar will be held on Wednesday, August 20, 2025, at 2:00 PM. Registration is available through the link below:
Sincerely submitted for your information.
Association of Turkish Travel Agencies
TÜRSAB
Annex - 1: Local Development Initiative Project Cover Letter
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