Turkey's Techonology Sector is Booming!

Posted On: 8 September, 2020 In Blog

In a major move for the country, both economically and globally, Turkey recently opened one of the largest-scale business complexes in the world, which contains a huge technology laboratory and 40 factories.

The project, which was officially unveiled by Erdogan at the Turkish Employer’s Association of Metal Industries, already adds to the 85 tech labs and 1607 research and design labs the country already has, and the new complex has been established with over $200m of investment.

Designed to be a regional hub for study, and to contribute to Turkey’s digital transformation including providing assistance to businesses over the next few years, it will offer free training to it’s employees and create an itenarary for the new digital age & it’s workforce.

The launch of the new factories will not only create 4,600 jobs, but according to Kocaeli Governor, Seddar Yavuz, they will also bring in more than $500m in additional annual revenue, and already have a 3.9bn Turkish Lira Investment valuation.

This project is part of a much wider ambition for Turkey, who over the next few years are determined to make Turkey the centre of three continents and a global production and technology base, and during the opening ceremony Erdogan noted that already ‘Turkey has the 13th largest economy in the world in terms of purchasing power, and with it’s unmanned aerial vehicles, and seven of the world’s top 100 defence companies, it’s among the best four or five countries in terms of possessing advanced technologies.

The new tech lab & the factories will play a huge role in further researching & developing the products of the future, more specifically things like robotics, 3D printing, chip technology and unmanned transport systems, and with 10 projects already receiving $140m in fixed investments, there’s no sign of things slowing down. During the event Erdogan discussed the elaborate plans to develop these technologies, and he wants to ‘rapidly increase our capabilities as it is strategically important for the country’. He also mentioned the momentum that Turkey has gained since the negative effects of the pandemic have reduced saying that ‘many of our companies have had the opportunity to open up to countries and regions in which they previously had little or no presence in’ and he hopes that now everything can start to fall back into place and grow again.

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