Investment Climate in Sinop

8/10/2019 Investment Climate in Sinop

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With its deep rooted history, Sinop is one of the oldest settlement centers of the Black Sea Region.

Thanks to its strategic location, natural harbor, and appropriate climate for agriculture Sinop hosted

many leading civilizations of old ages since 2,200 BC such as the Hittites, Phrygia, Pontus, Rome and

Byzantium; and it became an important port for which great wars were fought. Thus the marks and

monuments of this rich history have accumulated through generations.

The period of Turkish rule started in 1214 with Seljukian armies control over Sinop. In the following

centuries the Jandarids and the Ottoman Empire ruled it and their inuences have become concrete in

the castle, streets, mosques and madrasahs of the city.

>> A living history:

Sinop


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With its deep rooted history, Sinop is one of the oldest

settlement centers of the Black Sea Region.


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Sinop, in addition to the deep rooted and rich history, wonderful nature and forests, shines

with its active business life, highly rich sea product potential, appropriate climate for many

agricultural activities, rapidly growing modern and young university and increasing student

population.

The pearl of theBlack Sea

>>

General Information

Population

Population Density

Total Area

Coastline

Forest Area/Total Area

Number of Districts

203,027 (2011)

34.6 (person / km2)

5,862 km2

175 km

59.6 %

9


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Sinop fascinates people with its natural beauties.


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Sinop is located at the northernmost point of Anatolia. Its neighbor cities are Kastamonu to

the west, Samsun to the east and orum to the south. It has a 175 km coastline to the Black

Sea. Sinop comprises 0.8 % of Turkeys total area with its 5,862 km 2area. The mountains

located parallel to the Black Sea become lower as they approach to the province center and

constitute plains near the sea coast. The highest point is on Mount Zindan which is located in

Ayanck. Gkrmak is one of the big rivers, which irrigates Boyabat Plain and joins Kzlrmak.

atalzeytin, Ayanck, Karasu, Kanlay (Gzelceay) and Kabal streams ow into the Black

Sea.

Sinop, with its wonderful nature, coves, lakes, waterfalls, uplands and unique seashore,

hosts many natural wonders of the region. Inceburun, the northernmost point of Turkey,

and the lighthouse on it are the most visited places by tourists. Akliman, Hamsilos Cove and

Sarkum charm visitors with their unique beauty. Erfelek Waterfalls is one of a kind worldwi-

de with its rare characteristics. Long and natural beaches and a clear sea are some other

important elements that make Sinop the shining star of the Black Sea Region.

>> Sinop, naturalbeauty


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Sinop, with its wonderful nature, coves, lakes, water-

falls, uplands and unique seashore, hosts many natu-

ral wonders of the Region.


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Sinop is a lively city in terms of social life. Sinop, which possesses all the characteristics of

a coast city, transforms into a carnival area every spring and summer when cafes and res-

taurants are often lled with people. During the three months of summer, nding a hotel to

accommodate can be difcult. Also, this vividness in tourism translates into a large quantityof tourists. 305,153 and 495,123 tourists have visited Sinop in 2007 and 2011, respectively.

Theaters and concert halls are very active in the city. Sinop University also contributes to the

social and cultural life of Sinop with its increasing student number year by year.

Social hub in the

Black Sea region

>>


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Sinop possessing all the characteristics of a coastal city,

transforms into a carnival area every spring and summer.


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With its educated and skilled population, Sinop is ready to

supply required qualied labor force to investors.


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Companies in Sinop are satised with their employees. The surveys about labor force

market of Sinop show that 75 % of the companies think their employees are skilled

enough.

For a closer look on the employment numbers of companies active in Sinop;

Number of companies having more than 10 employees is 348,

Number of companies having more than 1 employee is 2,888

Sector distribution of companies in Sinop is similar to that in Turkey. Service and Industry

are considered as primary sectors in Sinop.

>> Sinop is satisfiedwith its employees!


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Population Distribution by Age Groups

Sufciency of

Employees in Sinop

Sufcient

More Than Sufcient

Not Fully Sufcient

Not Sufcient

Not Sufcient

More ThanSufcient

Population

(Person)

Age Range

Not Fully

Sufcient

Sufcient

Sinop offers great advantages to the investors with its young population and employment potential. The

population which is intense in the 15 44 age groups is enough for the investors to have access to the

necessary labor force.

75%

21%

2% 2%


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University providesskilled labor forceto the industry!

>>

Sinop University has 12 departments consisting of 4 faculties, 2 colleges, 2 institutes and

4 junior technical colleges. By 2011 2012 academic calendar, Sinop University has taken

steps to show the potential of the city with its 4,239 students in undergraduate programs,

74 students in graduate programs.


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With its faculties and junior technical colleges, Sinop University provides

skilled labor force and technical employees to the region.

2,774

3,314

4,207

4,889

Number of University Students by Years


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Sinop has enough vocational high schools active in order to provide intermediate employees

for companies.

>> Sinops potential

for employment


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Name of Vocational School Number ofStudents

Education Areas

Girls Technical and Vocational School

Sinop Vocational Trade School

75. Yl Cumhuriyet Anatolian Vocational Medical School

Sinop Anatolian Vocational Marine School

Boyabat Vocational Trade School

Boyabat Girls Technical and Vocational School

Boyabat Anatolian Medical Vocational School

Boyabat Technical and Industrial Vocational School

Duraan Atatrk Vocational Training School

Erfelek ehit zkan elikkaya Multi-Prog. High School

Gerze Technical and Vocational School

Gerze Hotel Management and Tourism Vocational School

Religious Vocational School

Trkeli Vocational and Technical Training Center

Information Technologies, Child Development and Education, Clothing

Production Technologies, Food & Beverages Service

Information Technologies, Ofce Management and Assisting,Accommodation and Travel Service, Accounting and Finance, Marketingand Retail, Food & Beverages Service

Nursing, Emergency Health Service

Wood Technology, Information Technologies, Marine, Electrical -Electronics, Building Technologies, Machine Technology, Metal Technology,Furniture and Interior Design, Motor Vehicles Technology

Accounting and Finance, Marketing and Retail

Information Technologies, Child Development and Education, Food &Beverages Service, Wearing Production Technologies, Crafts Service

Nursing

Metal Works, Machine Technical Works, Furniture Interior Design Works,Electrical Electronic Works, Information Technologies

Child Development and Education, Metal Technologies, Electrical-Electronics Technology, Information Technology

Electrical-Electronics , Computer Sciences, Child Development and Education

Electrical-Electronics, Information Technologies, Accounting, Textile, WoodTechnology, Food & Beverages Service

Food & Beverages Service

Religious Vocational School

Computer Accounting, Information Technologies, Clothing Technologies,

324

295

178

203

115

250

165

269

238

180

355

125

147

257


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Investment land isready for you!

>>

Industrial infrastructure of Sinop has been rapidly improved and shaped by the needs of

the era. Currently 1 Organized Industrial Zone, namely Sinop Organized Industrial Zone

(Sinop OIZ), is active in Sinop. Sinop OIZ was established on 100 hectares-area in 2001. The

second OIZ which is called Boyabat OIZ will be ready to serve industrialists in 2013 on an

area of 72 hectares.

Furthermore, Small Industrial Sites are also located in Sinop and demanded intermediategoods and sub-industry production are provided to the investors by the companies in these

sites.


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Organized IndustrialZones (OIZs)

Activity Capacity Used (%) Total Area (ha) Sectoral Structure

Sinop OIZ

Boyabat OIZ

Active

Will be active 2013

53

Land Allocation - 2013

100

72

Textile, Plastics,Food, Furniture

-

Legend

Area (ha)

Employment(person)

Activity

Active

Small Industrial Size

Airport

Port

Fishing Port

Highway Connections

NotActive

Organize

dIndustrialZones

Other


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Sinop provides various alternatives to investors, especially in transportation. With its large

and safe port, new highway connections and daily ights, Sinop is a signicant location for

investors.

Especially for investors who plan productions and export to countries located in Black Sea

basin, Sinop has the potential to be a trade base due to its proximity to important ports.

>> Transportation

opportunities in Sinop

Big Cities Distance (km) Duration (hour) Means of Transportation

stanbul

Ankara

Samsun

691 km

428 km

163 km

Airway

Highway

Highway

1 hour

6 hours

2 hours


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Technical Features of Sinop Port

Area of the Port

Capacity of Ship Admission

Services Provided at the Port

5,000 m2(Open Area)

400 Ships

Customs and Passport Control

Harboring

Loading & Unloading, Waste Management

Sinop Airport, which is only 10 km away

from the city center and Sinop Port,

offers ights to stanbul every day.

Sinop Airport will be renewed in 2013

in order to serve to more destinations.

With its newly improved high way

connection to Samsun, Ankara and

stanbul, Sinop attracts investors and

also tourists as a new destination.

Seaway

Airway

Highway


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Potentialinvestment areas

>>

Sinop offers a great number of advantageous investment opportunities to the investors with

its strategic location, forest resource, great potential of sea products and unique nature.

Sinop is a strong candidate for being a new tourism center of the Black Sea with its unique

nature and the sea as well as its production industry and welcomes investments in the

tourism sector.


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Sector Investment Reasons

Tourism

Sea Products

Woodwork

Textile-Wearing Apparel

Service Industry

Medical

Energy

Nature BeautiesAccommodation Conditions

Heritage of Various Civilizations Incentives

Natural ResourcesSkilled Labor Force

Strongest Faculty of the University

Rich Forest PresenceSub-Industry Presence

Skilled Labor Force

Presence of Strong CompaniesSkilled Labor Force Incentives

Skilled Labor Force

Potential of Young PopulationSkilled Labor Force

Important Incentives for Private Hospitals

Potential of BioenergyPotential of Wind Energy


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The new investment incentives scheme is specically designed to encourage investments

with the potential to reduce dependency on the importation of intermediate goods vital to

the countrys strategic sectors.

Sinop is a Region 5 province according to the classication

based on socioeconomic development level of the

Regions in Turkey and offers various advantages to

the investors being one of the few

Region-5 cities located in the

western part of Turkey.

>> New investmentincentive system


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Investmentincentives system

>>

General InvestmentIncentives

Regional InvestmentIncentives

Large-ScaleInvestmentIncentives

StrategicInvestmentIncentives

VAT Exemption

Customs DutyExemption

VAT Exemption


Tax Reduction

Social Security

Premium Support

Investment Land

Allocation

Interest Support

VAT Exemption


Tax Reduction

Social Security

Premium Support

Investment Land

Allocation

VAT Exemption


Tax Reduction

Social Security

Premium Support

Investment Land

Allocation

VAT Refund


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Regardless of

Sector

Regardless of

InvestmentLocation

Min. FixedInvestmentAmount up to500,000 TRY

General

InvestmentIncentives

Regardless of the region where investment takes place, all projects meeting both the specic

capacity conditions and the minimum xed investment amount are supported within the

framework of the General Investment.

Investments included in General Investment Incentives are exempted from VAT for purchasing machines andequipment. North Anatolian Development Agency accepts applications for General Investment Incentives.

General

Investment


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>> Regional investment

incentivesSinop, with its very high growth potential, offers great opportunities to investors. In accordance

with the regional investment incentives, tax reduction of up to 90 %, interest support of up

to 900,000 TRY, social security premium support for 7 years, free investment land allocation

and customs duty exemption for purchasing machines and equipment are provided in Sinop.


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Extra Contribution toInvestments in OIZ

PrimaryInvestments

Investments inClustering and

R&D

Met theMin. FixedInvestmentAmount

SupportedSectors

RegionalInvestmentIncentives

The sectors to be supported in each region are determined in accordance with regional

potential and the scale of the local economy, while the intensity of supports varies depending

on the level of development in the regions.

North Anatolian Development Agency provides all-process-time-long free consultancy services for

investments which are included in regional investment incentives.

RegionalInvestmentIncentive


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Regional investment

incentives -instruments

>>

Tax Reduction

InterestSupport

Investment LandAllocation


VATExemption

Social SecurityPremium Support

Incentives -Instruments

Support to Investmentup to 40%

Tax Reduction up to 90%

Total Support to Investmentup to 50%

InterestSupport up to900,000 TRY


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Incentives -Example

Investor comes from stanbul

Investments in wearingapparel is not supported by

Investments in wearing apparelin Sinop (up to 500,000 TRY) issupported by the new incentivesystem.

Sinop Organized Industrial Zone

50 Employees

1,000,000 TRY Investmentin Wearing Apparel

Regional Investment Incentive Example


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Regional Investment Incentives Example

Incentives For Investment in Sinop

An investment worth 1,000,000 TRY is assumed to be agreed in Sinop Organized Industrial Zone.

Company has used 1,000,000 TRYcredit for 7 years.

Company hires 50 employee.

Company has an amount of100,000 assessment of taxes.

Company buys machine worth to250,000 TRY from a local seller.

Company imports machineworth to 250,000 TRY.

The total amount of the return for the

investment of 1,000,000 TRY

5 points of the interest rate issupported by the incentive.

Government Support for theInvestor: 175,000 TRY



Social security premium support ofemployees is supported by the incentive.

Taxes will be supported up to 50% oftotal investment amount.



No VAT will be paid by the investor.

No customs duty will be paid by theinvestor.

1,322,500 TRY


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Regional Investment Incentive Supported Sectors

Integrated animal husbandry investments including integrated animal husbandry investments for stock

Aquaculture (including sh larvae and eggs production)

Manufacturing of food and beverages

Manufacturing of textile products

Manufacturing of wearing apparel

Manufacturing of suitcase, hand bag, saddlery, footwear etc.

Manufacturing of wood and cork products (except furniture), manufacturing of mats and other similar wickerwork

Manufacturing of paper and paper products

Manufacturing of chemical and herbal products used in pharmaceuticals/pharmacy

Manufacturing of non-metallic mineral product

Main metal industry, metal casting industry except for iron and steel

Metalware

Manufacturing of machinery and equipment

Manufacturing of ofce, accounting and data processing devices

Manufacturing of electrical machinery and equipment

Manufacturing of radio, television, communication equipment and devices

Manufacturing of medical devices, precision and optical instruments

Manufacturing of motorized land vehicles and sub-industry thereof

Manufacturing of furniture (except for furniture manufactured only from plastic)

Hotels

Student dormitories

Cold storage house services

Licensed warehousing

Educational services (pre-school education included, education of adults and other educational

activities are excluded)

Hospital investment, nursing home

Smart, multifunctional, technical textile

Waste recovery and disposal facilities

Manufacturing of coal gas (synthesis gas)

Greenhousing

500,000 TRY

500,000 TRY

1,000,000 TRY

1,000,000 TRY

500,000 TRY

500,000 TRY

1,000,000 TRY

10,000,000 TRY

1,000,000 TRY

1,000,000 TRY

1,000,000 TRY

1,000,000 TRY

1,000,000 TRY

1,000,000 TRY

1,000,000 TRY

1,000,000 TRY

500,000 TRY

1,000,000 TRY

1,000,000 TRY

3 stars and above

100 students

500 m2

1,000,000 TRY

500,000 TRY

500,000 TRY - 100 persons

500,000 TRY

500,000 TRY

50 000,000 TRY10 decares

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500 m2

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

500,000 TRY

5 decares

Sectors Eligible for Regional Incentives Region 5 Region 6

Minimum Fixed Investment Amount


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Large scale

investmentincentives

>>

In order to accelerate the industrial transformation of our country, produce high added-value

goods and accomplish the export amount of TRY 500 Million according to 2023 Visionof

Turkey, these supports are for investments that are larger than the minimum xed amount of

investment regardless of the region.


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Contribute toCountrys Technologic

Transformation

Technology-Intense All Regions

This incentive includes: VAT and Customs Duty Exemptions for purchasing machines, tax

reduction up to 80, Social Security Premium Support for 7 years, free land allocation


North Anatolian Development Agency provides all-process-time-long free consultancy services for

investments which are included in large-scale investment incentives.


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Large-scale

investment incentives

>>

Tax Reduction

InterestPayment Support

InvestmentLand Allocation


VAT Reduction


Large-ScaleInvestment

Incentives

Support toInvestmentup to 11%

For 7 years

Tax Reduction up to80% Support to Investment

up to 50%

Up to TRY900,000

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Large-Scale Investment Incentives Minimum Fixed Investment Amounts & Sectors

Production of Rened Petroleum Products

Production of Chemical Products

Harbors And Harbor Services

Automotive OEM

Automotive Supply Industries

Production of Railway And Tram Locomotives And/Or Railway And Tram CarsTransit Pipeline Transportation Services

Electronics Industry

Production of Medical, High-Precision And Optical Equipment

Production of Pharmaceuticals

Production of Aircraft And Spacecraft And/Or Related Parts

Production of Machinery (Including Electrical Machinery And Equipment)

Mining (Including Metal Production)

1 Billion TRY

200 Million TRY

200 Million TRY

200 Million TRY

50 Million TRY

50 Million TRY

Investment Area Minimum Fixed Investment Amount


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Strategic investment

incentives

>>

Investments in sectors having a high-growth potential for creating high added-value with

R&D theme goods which reduce the dependency of intermediate goods import are conside-

red for strategic investment incentives.

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Met more than50% by Import

Minimum InvestmentAmount of TRY 50 Million Creating a Minimum

Added-Value of 40%

Possessing an ImportValue of at Least USD

50 Million during thepast one year

Reducing TheDependence of Import

VAT and customs duty exemption for purchasing machines Tax reduction up to 90 % Social security Premium support up to 7 years Free land allocation Interest payment support up to TRY 50 Million Tax refund for the expenses of building and construction


North Anatolian Development Agency provides free consultancy services for investments, during the entire

process, which are subjet to strategic investment incentives.


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Strategic investmentincentives

>>

Tax Reduction

InterestPayment Support

LandAllocation


VAT Refund

VAT Exemption


StrategicInvestment

Incentives

Support toInvestment upto 15 %

During 7 years

For Expenses of Building & Construction

Tax Reduction up to90 % Support to Investment

up to 50 %

Up to TRY50 Million

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KUZKA provides

hard investmentsupports!

>>

In 2012, North Anatolian Development Agency (KUZKA) has provided TRY 16 million in the region

as part of its 2011 Financial Support Programs. With the help of these programs, technical,nancial and labor force capacities of the companies in Sinop have been improved.


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Other FundingResources

>>

Apart from the Incentive System and the KUZKA Financial Supports, investment nance isprovided with appropriate conditions by various institutions in Sinop.

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We are here for you!

Sinop Investment Support Ofce serves by taking responsibility for problems of companies and investors.

As Sinop Investment Support Ofce, our vision is to be a reference point for investing in Sinop.

The responsibilities that Sinop Investment Support Ofce has carried out for investors are listed below.

All services offered by the Sinop Investment Support Ofce are free.

Free Consultancy (Investment Finance, Location of Investment, Relations with Public Institutions etc.)

Technical Support (Feasibility Research, Marketing Research, Process of Investment Allocation etc.)

Bureaucratic Problem Resolution (Permission, Warrant, Investment Allocation etc.)

Education Support (Entrepreneurship, Foreign Trade, Production Planning etc.)


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Investment Climate in Sinop

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