GE to invest USD 900 million in Turkey

Dünya – General Electric (GE) will invest in energy, healthcare and infrastructure projects in Turkey over the next 3 years. The company announced the USD 900 million investment package in a press meeting also attended by Turkey’s Minister of Economy, Zafer Caglayan.

“Turkey’s new investment incentive scheme appears to have been well-analysed by GE. The aims of Turkey’s new incentive regime and GE’s investment package is a perfect match..”, said Caglayan at the press event. Turkey’s new incentive scheme is largely aimed at reducing dependency on imported intermediate goods and attracting investments of strategic nature.

The investment package includes production of wind turbines in Turkey. The country’s growing demand for energy necessitates USD 130 billion of investments in power generation in the next decade, according to Minister Caglayan. “GE’s selection of Turkey as a site for these investments is crucially important. The specifics of the investment plan will be revealed in the coming months..”, the Minister said.

GE’s plan towards Turkey has a “focus on infrastructure and innovation”, according to GE Vice Chairman John Rice. “GE’s planned investments in Turkey benefit from the opportunities offered by the rapidly growing economy and aligns well with the country’s 2023 vision..” he said. Turkey aims to be one of the world’s top 10 economies by 2023 and has set ambitious goals in energy, infrastructure, transportation and healthcare.

The multinational conglomerate GE is active in Turkey for 64 years, operating in aviation, transportation, healthcare and energy industries.

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