Sabah daily newspaper says that five US giants decided to make investments in Turkey as the Turkish government announced new incentives for investors.

The paper says that Economy Minister Zafer Çağlayan was holding contacts in the US. He meets representatives of leading US companies to give details about the new incentives. “American businessmen have met the incentives with more excitement than the businessmen in Turkey,” Çağlayan said.

Çağlayan said that Pepsi Co, a company with 300,000 employees and annual revenues of $60 billion, was planning to increase its $800 million investments in Turkey to $5 billion.

General Electric, 3M, Kimberly-Clark and Quest Diagnostics also plan to make new investments in Turkey.