The center of gravity of the global economy is shifting from West to East
Industry and Technology Minister Mehmet Fatih Kacır emphasized that economic balances are changing and announced that Turkey has increased its national income.
Speaking at the New Focus of Investment: Creating Value for the Future Summit, Industry and Technology Minister Mehmet Fatih Kacır stated that the center of gravity of the global economy is shifting from West to East and that Turkey has significantly grown its national income.
Changing Balances in the Global Economy
The New Focus of Investment: Creating Value for the Future Summit was held with the participation of Industry and Technology Minister Mehmet Fatih Kacır and Central Bank of the Republic of Turkey Governor Fatih Karahan.
Protectionism and the New Production Map
Minister Kacır stated that the global economy is searching for direction due to geopolitical and strategic fractures, and that the understanding of free trade is leaving its place to protectionism.
It was noted that in this period when the global map of production and investment is being redrawn, the center of gravity of the global economy is shifting from West to East.
Economic Growth and Investment Steps
Thanks to the investment-, employment-, production-, and export-oriented development model implemented over the last 23 years, Turkey's national income has increased from $238 billion to $1.6 trillion.
Advanced technology production and green transformation are supported through strategic steps such as the Investment Commitment Advance Credit Program and the HIT-30 High-Technology Investment Program.