Varank Announces "Technology-Oriented Industry Initiative Program"

Minister of Industry and Technology Varank said, "We are supporting investments to produce 919 products with high technology levels or those generating substantial trade deficits through domestic capabilities and expertise, under the Technology-Focused Industry Initiative Programme." Minister of Industry and Technology Mustafa Varank shared information on the priority products to be supported under the Technology-Focused Industry Initiative Programme via Twitter, noting "50 billion dollars will remain in Turkey." In his post, Varank conveyed details of the calls to be launched under the programme through an infographic, stating: "We are supporting investments to produce 919 products with high technology levels or those generating substantial trade deficits through our domestic capabilities and expertise, under the Technology-Focused Industry Initiative Programme." According to the infographic, 919 priority products and innovative areas were identified from "chemicals," "computer-electronics and optics," "machinery," "pharmaceuticals," "electrical equipment," "transport vehicles," "medical devices," or other sectors of critical importance for sectoral development in these 7 areas. The products were selected based on key criteria including contribution to current account deficit and export potential, product complexity and concentration indices, value added per investment, and product forward-backward linkages. Various supports will be provided for investments in this scope, including investment site allocation, energy and capital support, VAT exemption, qualified personnel support, and tax reductions. [caption id="attachment_123354" align="aligncenter"] Photo: Twitter[/caption]

Four calls planned

Four calls are planned to be launched under the programme in 2021. A "Mobility Call" will be opened in March-April for investments in the transport vehicles, electronics, electrical equipment and machinery sectors. The "Health and Chemical Products Call" to be launched in May-June will support investments in priority products in the pharmaceuticals, medical devices and chemicals sectors. The "Digital Transformation" call will be launched in July-August, and the "Structural Transformation in Manufacturing" call will be launched in September-October under the programme framework. Detailed information about the "Technology-Focused Industry Initiative Programme" is available at www.hamle.gov.tr.

TRY 2 billion in machinery sector investments supported

In the first phase under the programme, investments in high-technology products such as servo motors, CNC machine tools and additive manufacturing machines in the machinery sector were supported with TRY 2 billion through a call opened in that sector. The Notification on Amendment to the Priority Products List Notification, published in the Official Gazette on 27 February and entering into force, announced lists of products to receive support in 7 focus sectors under the programme for ensuring domestic production or increasing production capacity.   Source