Türkiye is shifting on the trail to changing into a regional expertise hub for worldwide investments as an increasing number of overseas companies perform analysis and improvement (R&D) efforts within the nation, Bekir Polat, the vp of Türkiye’s Investment Office, advised Anadolu Agency (AA) on Wednesday.
Polat mentioned Türkiye final yr reached a gross home product (GDP) of $1.2 trillion and the nation goals to affix the ranks of the world’s high 10 economies, noting the significance of Türkiye’s digital and inexperienced transformation targets and investments to realize the aim.
He mentioned Yandex’s new Yazeka, a man-made intelligence-powered search engine particularly engineered for the Turkish market, is a testomony to overseas companies’ curiosity in Türkiye’s engineering energy and certified workforce, noting that the Investment Office will help Yandex in future investments, akin to in cloud expertise and taxi-on-demand purposes.
“It is of great importance for foreign companies like Yandex to take advantage of Türkiye’s engineering capacity and develop new technologies via the country’s research and development capabilities – such investments are critical to support Türkiye’s digital ecosystem,” he mentioned.
Türkiye continues to be a secure harbor for long-term investments whereas the world struggles with wars, and its aggressive funding atmosphere contributes to that, he mentioned.
Polat underlined that macro balances might shift shortly, akin to when provide chains had been disrupted in the course of the pandemic, and commerce protectionism and regional conflicts may also have an effect on traders.
“When we look at the century-long history of Türkiye, there are international companies that have been investing throughout that time, as these direct investments are made with much longer-term commitments,” he mentioned.
Polat said that Türkiye grew to become one of many largest suppliers to Europe with its profitable efforts in digital and inexperienced transformation after the pandemic, whereas Türkiye’s free commerce settlement and the Customs Union with the European Union allows it to succeed in 1.3 billion individuals and a complete mixed economic system of $30 trillion.
Green and digital transformation shall be an important focuses for Türkiye’s overseas direct funding technique for 2024-2028, he added.
Source: www.dailysabah.com