Türkiye to announce several hyper-scale investments by year-end
A view of residential areas in the Asian side of Istanbul, Türkiye, July 26, 2024. (Reuters/Dilara Senkaya)
Türkiye’s Minister of Industry and Technology Mehmet Fatih Kacir announced that several hyper-scale investments will be unveiled by the end of this year.
Speaking at the “Türkiye TechVisa” event held at Istanbul Airport, Kacir emphasized Türkiye’s growing role as a center for research, development, and innovation on a global scale.
“We will likely announce a few hyper-scale investments by the end of the year,” said Kacir, noting the success of the HIT-30 program, which has attracted significant attention from international investors.
Türkiye’s Tech Visa Program
In a social media post he posted on X, Kacir said, “Today, we introduced “Türkiye Tech Visa Program,” which is an important step in Türkiye’s journey to become a global technology development center.”
He added, “This program, which we developed in collaboration with many of our stakeholders, provides comprehensive support to competent professionals and innovative initiatives in the field of technology to continue their long-term success journeys in Türkiye.”
With a 3-year special work permit, participants will have the opportunity to establish a settled life in our country by making long-term plans.
In the program, we will provide consultancy services to entrepreneurs in legal, financial and technical processes for the companies they will establish in Turkiye, while providing guidance services to entrepreneurs coming from abroad to effectively benefit from public incentive and support programs.
The biggest winners of this program will be Türkiye’s technology startups and qualified human resources. As we grow our technology ecosystem, more success stories will emerge from Türkiye; our startups’ access to financing and meeting with leading talent will accelerate.
Minister of Industry and Technology of Türkiye, Mehmet Fatih Kacir
Türkiye’s ongoing investment talks
During the event, Minister Kacir also addressed investment questions from CNBC-e regarding potential partnerships. He confirmed that negotiations with Chery are ongoing but no agreement has been finalized. However, Türkiye has already signed an investment deal with the Chinese automotive company BYD, and the expected progress is on track.
“An investment agreement was signed with BYD, and the forecasted process is unfolding as planned. We are working closely with them to ensure the project is completed within two years,” Kacir said, adding that the government is offering support throughout the project’s development.
Türkiye as global R&D hub
Kacir highlighted Türkiye’s strategic position as more than just a market or manufacturing hub, stating that the country aims to become a leading global center for research and development (R&D).
“We are extending our invitation to global investors with this vision in mind. By 2030, we plan to mobilize $30 billion in high-value investments. Türkiye will continue to position itself as the center for R&D and innovation with these investments.”
