Medicor–a Hungary-based medical device producer–has taken a decision to invest EUR 2 million in Turkey to manufacture incubators.
Medicor manufacturing plant is due to be established in Turkey’s capital city of Ankara, announced Minister of Industry and Technology Mustafa Varank on February 8 during a press conference held jointly with Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto.
"This investment decision is a concrete proof of our Hungarian friends' confidence in Turkey's economic potential and political resilience," Minister Varank added.
The facility will serve as Hungary’s premier investment in Turkey’s medical industry. It is slated to enable Medicor to opt for Turkey as a manufacturing base to export its products to Central Asia, the Middle East, and Africa, noted Varank.
“The investment will hopefully herald further economic and trade cooperation between Turkey and Hungary, which holds a great potential,” Minister Varank added.
Medicor’s plant is projected for commissioning in Turkey in the first half of 2022.