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During Turkey’s Medium-Term Program period new generation industrial zones will be established

During Turkey’s Medium-Term Program period, monetary, fiscal and income policies will be carried out in full coordination in order to maintain a balanced outlook between domestic and foreign demand, as well as to ensure sustainable and inclusive growth by increasing the growth potential in a stable and healthy manner. In this period, the Turkish economy is expected to grow by an average of 5.3% annually.

TARGET INCLUSIVE GROWTH

By strengthening the physical, human and technological infrastructure, technological transformation will be achieved in the industry and a more efficient and competitive economic structure will be established. In order for growth to be high quality, inclusive and sustainable, the implementation of the development model, which observes macroeconomic balances and is supported by structural reforms, will be continued. In the industrial sector, high-tech fixed capital investments and foreign direct investments will be encouraged. The simplification process in the investment incentive system will continue. Working capacities of companies, especially SMEs, will be developed with modern technologies and business models. Digital transformation projects of SMEs will be supported to accelerate their adaptation to the new order in the post-pandemic period. New R&D projects for groundbreaking technologies will be initiated, and greater representation of the private sector will be encouraged in overseas committees where technological standards are set. New generation industry and technology zones will be established, where high-tech products will be produced, large-scale domestic and foreign investments will take place, and have an effective governance model.

LOCALITY WILL BE INCREASED

The INDUSTRIALIZATION Executive Committee will develop special models that will cover the entire process from R&D to commercialization through public procurement and policies involving innovation, localization and technology transfer, and the rate of domestic contribution in production, especially critical components in priority sectors, will be increased. Work on the valuation of intellectual property assets will be accelerated.

Source: Sabah / Translated by Irem Yildiz

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