Turkish Cypriot Chamber of Industry initiates new industrial zone project

Ali Kamacıoğlu, President of the Turkish Cypriot Chamber of Industry (KTSO), has announced an initiative to establish new, modern industrial zones dedicated exclusively to industrial activities. This move comes in response to the lack of suitable investment areas and the inefficiency of current zones, where Kamacıoğlu noted that only 17 percent of participants are engaged in actual industrial activity.

The KTSO is working on a model for planned, cluster-based industrial areas with proper infrastructure to increase the country's production capacity. The initiative aims to address long-standing issues regarding land procurement, regional management, and the legal and administrative processes required for businesses to utilize these areas effectively.

Kamacıoğlu stated that because previous calls to authorities for restructuring had not been met, the Chamber is now utilizing its own resources to develop a sustainable model that facilitates new machinery investments, facility expansions, and increased employment.