12.07.2024 14:31
Minister of Industry and Technology, Mehmet Fatih Kacır, stated that there is a possibility of signing an investment agreement with another company in Turkey in the near future, following Chinese BYD, one of the world's largest electric vehicle manufacturers. He said, "I can say that we are eager to announce similar investment news in both this sector and other sectors in the coming period, it would not be a surprise."
The Minister of Industry and Technology, Mehmet Fatih Kacır, made an evaluation regarding the investment that BYD will make in Turkey and his meeting with Luca de Meo, the CEO of Renault Group Global, in a program he attended on a television channel. Emphasizing that Renault is a very valuable investor for them, Kacır stated that the company has accelerated its investments in hybrid car production in Turkey in recent times.
"THERE IS A TREMENDOUS TRANSFORMATION IN ALL AREAS OF TECHNOLOGY"
Kacır stated that the company has prepared a production plan regarding next-generation cars and models and that they have a strong plan to produce new generation vehicles in Turkey. Emphasizing that they strongly support these plans as the Ministry of Industry and Technology, Kacır said, "We are preparing to make further plans with them. There is a tremendous transformation in all areas of technology. We are also preparing 10-year plans with our important investors and industrialists. These plans are prepared in harmony with Turkey's development plans. We want Turkey to be predictable for investors."
Kacır pointed out that Turkey's investment incentives are an important instrument and stated that BYD's investment will be supported in a similar way to previous ones. Explaining that they provide tailor-made support for each project, Kacır said that they create an incentive framework that includes the priority needs of the project. Kacır stated, "We will make more comprehensive sharing about BYD's investment incentives in the coming weeks. In the incentives, we offer some facilities regarding the provision of investment locations. We also have different supports for employment and tax applications. Our goal is to accelerate Turkey's development journey and establish a win-win relationship with investors."
Kacır emphasized that they want to increase the share of production in Turkey in electric, rechargeable hybrid, and other hybrid vehicles in the coming period and said, "We want to gradually reduce the share of internal combustion vehicles both in production and in the market. We want to run faster on this path than before. We are making efforts to activate all the elements of this green transformation."
"WE ARE CLOSE TO SIGNING ANOTHER AGREEMENT AFTER BYD"
Kacır stated that they will continue to make efforts for both existing and new brands like BYD to accelerate their new technology investments in Turkey and said the following: "I said that we have reached the final stage with 2 brands especially in the last month. We finally signed an agreement with one of them. We may have the possibility to sign an agreement with another one soon, but we are still in contact with others. Just as we have had very good collaborations with American, European, Korean, and Japanese brands, we can also have collaborations with Chinese brands. As long as we act in a win-win understanding. Let them benefit from Turkey's opportunities most effectively, and let us gain speed in our growth and development journey thanks to them. I can say that we have the desire to announce similar investment news in this sector and other sectors in the coming period, it won't be a surprise."
"TURKEY WILL GROW BY EXPORTING TECHNOLOGICAL PRODUCTS TO THE WORLD"
Emphasizing that their priority is to attract large-scale investments to Turkey, Kacır stated that economies of scale are one of the most important competitive factors for global brands today and that it brings about the formation of domestic added value especially in some industrial sectors. Kacır stated that investments will continue in Turkey and said, "BYD's investment is an investment expected to be worth 1 billion dollars. The investment amounts of other brands may be slightly below or above this, but what is important is the rapid increase of investments that will create economies of scale, competitiveness, and export potential in Turkey. We attach great importance to these investments in terms of Turkey's ability to export technological products."
Stating that they aim to make Turkey a production hub and center for global brands, Kacır said that Turkey's role at the global level in terms of R&D and innovation will also be strengthened with investments in addition to investment and exports. Kacır pointed out that global investments are not made for the first time in Turkey and made the following evaluation: "We need to say that we have provided more than 260 billion dollars of foreign direct investment during the AK Party governments. Last year, 1.6 billion dollars of foreign direct investment flowed into Turkey. Before the AK Party governments, Turkey had a 0.2 percent share in global foreign direct investment inflows. In the last 22 years, this share has increased to 1 percent. In other words, we have increased our share slice from this pie five times. This alone is proof that Turkey is the right address for investors. Of course, we will take steps to accelerate foreign direct investment in the coming period."
"WE ARE WORKING ON DIFFERENT FINANCING METHODS"
Kacır stated that they have made comprehensive work plans regarding the establishment of industrial areas in Turkey and said, "We are preparing a National Industrial Areas Plan by working together with all public stakeholders, taking into account all transportation investments in Turkey until 2053, and where all of Turkey's goals converge on a common ground. The most important result of this will be to increase the scale of organized industrial and industrial zones in Turkey." Kacır stated that the share allocated to industrial areas in Turkey is currently at the level of 0.36 percent of the total area and said the following: "We aim to increase this to 1 percent. For this, it is important for this plan to be ready and for these industrial areas to be prepared to be presented to investors rapidly. We are working on different financing methods for this. In addition to this, we have a very wide range of instruments in terms of investment incentives. In the coming period, we will create a new incentive framework regarding investments that will bring about green transformation, digital transformation, high added value, and the transformation of the local dynamics of regions into economic value. We will announce these with a new High Technology Incentive Program that will be declared to the whole world by our President. This will also attract the attention of investors at the global level."