Gov’t aims to boost support for companies: Minister

BURSA

The support provided under the Small and Medium Enterprises Development Organization (KOSGEB) will be increased by at least 100 percent in line with the country’s growth targets, Industry and Technology Minister Mehmet Fatih Kacır has said.

The executive committee of KOSGEB will meet this week to discuss the issue, Kacır told businesspeople at a gathering in the industrial province of Bursa.

Work is ongoing to boost the support to be provided to manufacturing companies, Kacır said, adding that they were reconsidering the amount to be offered to those firms.

“We will also provide strong support to digital and green transformation with the comprehensive reform in our incentive scheme. Companies will become the center for green transformation and digital transformation.”

Companies’ digital maturity levels will be determined, and they will have a five-year road map, the minister explained.

“We plan to implement a model similar to research and development incentives.”

Türkiye needs to overhaul the incentives scheme, and they are working on it, Kacır said.

“One of the many steps to be taken in this transformation will be the 'Regional Development Initiative Program.' We already launched the 'Technology Focused Industry Initiative,' and it proved very effective.”

Under this program, they received around 750 applications and provided support for 180 of those projects, Kacır noted.

“We assess that when those $3 billion worth of R&D projects materialize, they will help reduce Türkiye’s current account deficit by $7 billion each year,” he said.