8/15/2019

Turkey Starts Tech-Driven Industry Initiative

​​Tech-Driven Industry Initiative, also known as the “end-to-end localization” plan, which the Ministry of Industry and Technology has been working on for a long time, was published in the Official Gazette. The program aims to curtail dependence on imports of strategic goods and could eventually have a positive effect on the current account deficit to the tune of USD 30 billion.

​Speaking about the program, Minister of Industry and Technology Mustafa Varank stated that the program was prepared to permanently reduce the current deficit and provide GDP growth under the leadership of technology. “It will be a result-oriented program based on the commercialization of products resulting from R&D activities and the increase in domestic added-value. With the decrease in the ratio of imported intermediate goods in industry, our current deficit will decrease permanently, and our hand will be strengthened in global competition,” Varank said.​​

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