Investment Increases in Major Areas...

Posted On: 19 February, 2020 In Blog

The 2023 targets that Turkey set in place for becoming one of the world’s best developed countries, is certainly underway and progressing nicely, as it’s been revealed that investment is being ramped up for the petrochemicals, transportation, technology, mining, defense and electronics markets throughout this year, 2021 and 2022.

By boosting the manufacturing industry’s share of GDP and by raising the export share of high tech products to 50%, they expect to attract significant investment from foreigners, of which their main focus is on the UK, given it’s critical importance in the technological arena, even after the Brexit result.

Mustafa Varank, Turkey’s Technology and Industry Minister was highly enthusiastic about the current relationship with the UK at the recent conference in Istanbul, quoting ‘I see this conference as a step for improving and deepening our relations much more after the Brexit period’. He went on to add ‘We hope this process will conclude with a free trade agreement’.

Only recently Turkey produced it’s first indigenous car, and this is one of the many products they will be working hard on over the next few years, setting targets of having half a million software developers and 23 global smart products in the Industry by 2023.

We are of course yet to see the final outcome of what a trade relationship with Turkey would look like, but the signs are there, and it’s certainly positive from their side, Over to you Boris!

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