Industry and Technology Minister Mustafa Varank introduced a project-based incentive system that has already yielded four new investments worth TRY 8 billion in total.
• Turkish Aerospace Industries production of national combat aircraft
• Bosch production of new-generation high-pressure fuel injector
• BMC production of various rail system vehicles
• BMC production of diesel engines, transmissions, and sub-systems
These projects will create a total employment of 4,500, said Minister Varank. Furthermore, these projects are also expected to reduce the current account deficit by USD 1.2 billion.
“We will support the domestic development of widely used products and technologies in our country. We think that this new support program will make a significant contribution to the production of products with high added value, while at the same time contribute to the reduction of the current deficit," stated Minister Varank.