“Presidential Decision on Branding Support for Foreign Exchange Earning Service Sectors” was published in the Official Gazette.
Minister of Commerce Ruhsar Pekcan, in her post on her Twitter account, gave information about the work carried out by the Ministry of Commerce on the issue.
Drawing attention to the innovations regarding the Turquality Support Program, Pekcan made the following evaluation:
“The work carried out to support the brands in the program implemented by our Ministry for the service sectors with a system based on the ‘target market’ principle has been completed. With the Presidential Decree published in the Official Gazette today, our brands in the service sector will be supported for 5 years, separately in each market they will enter. Support for the development of the institutional infrastructure will be provided for the first 5 years.”
Referring to the impact of these supports on the current account balance, Pekcan said, “This new support system will pave the way for our brands to be present in more markets and become permanent in these markets. In this way, our country’s service revenues will increase sustainably, and the contribution of the service sectors to the current account balance will be positive.” to be continued.” he said.
50 percent support for many expenses to beneficiaries
With the “Decision on Branding Support for Foreign Exchange Earning Service Sectors” implemented by the Ministry of Commerce, it is possible for Turkish brands to be supported for 5 years separately in each market they will enter, and they can benefit from supports for the development of corporate infrastructure for the first 5 years after they enter the support program, regardless of the target markets. While doing so, it will also be provided to contribute to covering many of its expenses.
In this context, the expenses of the beneficiaries included in the Turquality Support Program regarding the registration of products and services in the countries they have determined as target markets and approved by the Ministry, expenses related to the registration and protection of trademarks abroad, training, consultancy and certification expenses related to documents/certificates that provide advantages in entering the market, Expenses for the employment of a maximum of 5 cooks/chefs, software developers, engineers and translators for healthcare institutions employed by the company/organization at the same time, advertising, promotion and marketing expenses for the countries determined as target markets and approved by the Ministry, a maximum of 50 employees at the same time. Many expenses such as rent for the store/restaurant/cafe, storage expenses for the warehouse, municipal expenses, suitable location research and commission expenses for renting the mentioned units, and legal consultancy will be supported at a rate of 50 percent.
Source: https://www.aa.com.tr/tr/ekonomi/bakan-pekcan-turquality-desteklerini-yeniliği-acikladi/1847246
