Sabah – Research and development expenditure in Turkey went up by 18.8 percent in 2014 to reach TRY 17.6 billion (USD 6.1 billion), according to the Turkish Statistical Institute.
Spending surpassed 1% of the country’s total GDP last year, with private-sector outlay accounting for almost half, at 49.8%. Academic institutions followed with 40.5% and the rest, 9.7%, made by public institutions.
The country spent 0.95% of GDP on R&D efforts in 2013. R&D expenditure in Turkey is expected to account for 3 percent of the country’s GDP by 2023, the centennial of the Republic.
Turkey provides special investment incentives in the form of tax exemptions and cuts, as well as financial support, to improve vital industries’ technological competitiveness and innovation capacity.