Industry, young entrepreneurship, electric vehicles to be Trkiye’s priorities in new term

In the new term, Trkiye’s Industry and Technology Ministry plans to boost industrial competitiveness, support young entrepreneurs, and make the country a next-generation hub for electric vehicles. Taking over the role as minister a day after his appointment on Saturday, minister Mehmet Fatih Kacir vowed to endeavor for a “fully independent Trkiye” under the country’s “National Technology” initiative. Kacir is expected to release a roadmap in the coming days on how the country will reach its goals, especially for structural transformations prioritizing high added value in strategic industries. Projects One major priority of the ministry in the new term will to support small and medium-sized enterprises (SMEs). To do so, it plans to back their digitalization efforts and establish an SME Investment Bank to help meet their financing needs. It also intends to support SMEs affected by twin earthquakes that struck southern Trkiye in February, leading to widespread destruction and over 50,000 deaths. Young entrepreneurs will be given more access to financing, as well as training and other activities to encourage entrepreneurship. Steps are also planned to strengthen the country’s start-up ecosystem. To promote products and services provided by IT companies, international technology marketing offices will be established in five countries by 2028. Research and development work will also be a priority, with plans to increase spending in that field to 2% of national income. As part of Trkiye’s National Technology Entrepreneurship Strategy, the country aims to be among the world’s 20 most-developed ecosystems. One target in this area will be to create 15 “Turcorns,” or Turkish companies with a valuation of at least $1 billion, and five decacorns, companies with a value exceeding $10 billion. As part of harmonization efforts with the European Green Deal, green transformation of the Turkish manufacturing industry will also be promoted. The country’s network of fast charging stations for electric vehicles will be expanded as part of another initiative. In line with making Trkiye a next-generation base for electric cars, mass production of homegrown automobile Togg, will be expanded to 1 million vehicles by 2030. Investment battery production will be completed by developing sub-components with battery modules and packages, while the establishment of a battery testing center in the country will also be encouraged. As part of the Turkish National Space Program’s work on a lunar mission, unmanned spacecraft will be developed, along with a hybrid fuel and a unique and indigenous space rocket engine. Efforts to send a Turkish national to the International Space Station for a science mission will be completed, as well. Another aim is to make Trkiye’s Antarctic Scientific Research and Science Base permanent and gain consultant country status in the Antarctic Treaty System. To boost the competitiveness of Trkiye’s manufacturing industry, digital transformation work will be stepped up, while clustering enterprises will receive support. Measures will also be taken to increase R and D, innovation and design activities by improving competence, cooperation, governance and financing.

Source: Anadolu Agency