High-Tech and Innovation Hubs Position Turkiye as a Prime Destination for Global Leaders
Industry and Technology Minister Mehmet Fatih Kacir emphasized that investments are significantly enhancing Turkiye’s brand value, highlighting the multifaceted benefits of becoming a high-tech and innovation hub. Speaking on a television program, Kacir discussed the positive impact of investments on Turkiye.
Referencing an interview with Stella Li, Vice President of BYD and CEO of BYD America, Kacir noted, “I read her interview, and she shared similar thoughts with me previously. She mentioned, ‘Chinese tourists spend $200 billion annually worldwide. We believe that this investment will help Chinese tourists discover Turkiye’s magnificent beauty.’ Such investments indeed elevate Turkiye’s brand value. Becoming a center for high technology and innovation and a destination for global leaders’ investments brings multifaceted gains.”
Kacir pointed out the significant acceleration in attracting global investments to Turkiye over the past 22 years, sharing relevant statistics. He remarked, “Global developments have strengthened Turkiye’s role. We are the ideal destination for European brands needing skilled human resources, American and European brands seeking alternative supply centers, and Chinese brands looking to enter world markets.”
“Renault Has Been Here for Over 50 Years”
When asked about his discussions with Luca de Meo, CEO of Renault Group Global, Kacir shared insights on Renault’s longstanding presence and future plans in Turkiye. “Renault has been here for over 50 years, with a production facility in Bursa capable of manufacturing 360,000 vehicles. The CEO of Renault also chairs the European Automobile Manufacturers Association, playing a crucial role in Europe’s green transition. They recently visited Istanbul, and we are in ongoing discussions about producing new vehicle models and technologies in Turkiye. Renault has made significant strides in hybrid vehicles, including producing hybrid engines here. They plan to launch the production of 4 to 5 new models in Turkiye. We are also working on long-term plans.”
Kacir underscored the global significance of industrial policy, stating, “This is a period where industrial policy is gaining importance worldwide. Everyone in the U.S. and Europe is talking about it. Achieving a country’s development goals is not possible through monetary and fiscal policies alone. Our per capita income is close to reaching the high-income group threshold. With an increase of about $400 per capita, we will be a high-income country. For countries like ours, the only way forward is through steps in industrial policy.”
Source: Trthaber / Prepared by Irem Yildiz