Turkey to offer direct incentives for R&D operations

Turkey to offer direct incentives for R&D operations

ANKARA - Anadolu Agency
Turkey’s volume of direct incentives for research and development (R&D) projects will be 1.5 billion Turkish Liras ($570 million) in 2015, Turkish Science, Industry and Technology Minister Fikri Işık said on late March 25.

In a speech during the inauguration ceremony of Germany-based MAN’s new bus production plant in Ankara, Işık said the aim is to transform Turkey into a production and R&D hub.

“We are aiming to increase R&D projects in Turkey,” Işık said. “Our hope is that other companies, like MAN, develop new products in their R &D facilities in Turkey.”

“Hopefully, thanks to our qualified human capital, Turkey will offset its lost years,” he added.

Işık also said cheap labor costs and land allocation are not the only incentives which encourage investors, adding the quality of Turkey’s human capital was the main driving force behind MAN’s decision.

Işık added the automobile industry in Turkey has boomed since 2002, thanks to political stability and an environment of confidence, reaching an annual 1.22 million units as of 2014.

“Turkey ranks 17th in the global automobile production [market] according to 2014 figures,” Işık said.
The factory in Ankara was the first facility MAN established outside of Germany. It has a capacity of producing 2,000 units annually.