‘Türkiye is on path to become regional technology hub’

ISTANBUL

Türkiye is on the path to becoming a regional technology hub for international investments, as more and more foreign firms carry out research and development efforts in the country, says Bekir Polat, the vice president of Türkiye’s Investment Office.

Speaking to state-run Anadolu Agency, Polat said Türkiye last year reached a GDP of $1.2 trillion and the country aims to join the ranks of the world’s top 10 economies, noting the importance of Türkiye’s digital and green transformation targets and investments to achieve the goal.

He said Yandex’s new Yazeka, an artificial intelligence-powered search engine specifically engineered for the Turkish market, is a testament to foreign firms’ interest in Türkiye’s engineering power and qualified workforce, noting that the Investment Office will support Yandex in future investments, such as in cloud technology and taxi-on-demand applications.

Türkiye continues to be a safe harbor for long-term investments, while the world struggles with wars, and its competitive investment environment contributes to that, he said.

Polat stated that Türkiye became one of the largest suppliers to Europe with its successful efforts in digital and green transformation after the pandemic, while Türkiye’s free trade agreement and the Customs Union with the European Union enables it to reach 1.3 billion people and a total combined economy of $30 trillion.

Green and digital transformation will be the most important focuses for Türkiye’s foreign direct investment strategy for 2024-2028, he added.