Industry and Technology Minister Kacır Announces $30 Billion Investment Target for 2030
Industry and Technology Minister Mehmet Fatih Kacır announced that they aim to realize $30 billion in investments with state support by 2030 under the HIT-30 Program.
Speaking at a summit held at the Istanbul Finance Center, Industry and Technology Minister Mehmet Fatih Kacır touched upon Turkey's economic growth in recent years and shared his technology and industry investment targets extending to 2030 with the public.
Start of the Summit
The New Focus of Investment: Creating Value for the Future Summit, held at the Ziraat Towers Auditorium in the Istanbul Finance Center, began with the participation of Industry and Technology Minister Mehmet Fatih Kacır and Central Bank of the Republic of Turkey Governor Fatih Karahan.
Global Disruptions
In his opening speech, Minister Kacır stated that the global economy is searching for direction due to geopolitical and strategic disruptions, and that the understanding of free trade is being replaced by protectionism.
Economic Growth
It was stated that thanks to the development model implemented over the last 23 years, national income has increased from $238 billion to $1.6 trillion, while annual product exports have risen from $36 billion to $283 billion.
HIT-30 Program
While strategic projects are supported through the new incentive system and the Investment-Commited Advance Credit Program, the HIT-30 High-Technology Investment Program targets $30 billion in state support by 2030.
Supported Areas
It is aimed to implement investments in strategic areas such as batteries, electric vehicles, solar cells, wind turbines, chips, defense technologies, data centers, and artificial intelligence.
SME Financing
It was reported that over $1 billion in financing has been provided to SMEs through the Turkey Green Industry Project, the Organized Industrial Zones Project, and the Socially Inclusive Green Transition Project.
Terminal Istanbul
It was announced that Terminal Istanbul will open with all its functions in 2027 and that dozens of international stakeholders from 14 different countries have already joined the ecosystem.