Erdoğan says Türkiye will direct resources worth $30 bln to high technology investments

Türkiye will direct a total of $30 billion worth of resources consisting of tax incentives and grant support to high technology investments, President Recep Tayyip Erdoğan announced on Friday.

Speaking at the country's High Technology Incentive Program (HIT-30) introduction ceremony in Istanbul, he said Türkiye aims to become a regional production hub in battery production capacity and offer $4.5 billion worth of incentive package to investors.

The country is also launching a $5 billion worth of incentive package to increase its production capacity in the automotive sector to at least one million units per year, Erdoğan said.


For five years, Ankara will meet half of personnel expenses of new centers to be established in the country by world's top 1,000 companies in terms of R&D, he added.

"We aim to support the manufacturing of critical components and offshore turbines in wind energy and build an indigenous wind energy brand," the president said.


Türkiye will provide grant support of up to $8,000 per megawatt for cell investments aimed at establishing a 15-gigawatt capacity in solar energy, he said.


The government paved the way for global automotive companies and other large-scale vehicle manufacturers to direct their electric vehicle investments to Türkiye, Erdoğan said.


"We aim to bring at least $20 billion of private sector investment to our country, which will contribute greatly to our development journey in the fields of technology," he added.