Challenges in Accessing Financing are Hitting the Plastic Sector

The Chairman of the Plastic Industrialists Federation (PLASFED) Ömer Karadeniz drew attention to the significant challenges facing the Turkish plastic industry today. High interest rates and difficulties in accessing credit are causing a major bottleneck in the sector. Karadeniz stated that this situation is significantly hindering manufacturers in terms of both maintaining their current production and making long-term investments.

Karadeniz emphasized the financial barriers faced by the Turkish plastic industry, particularly in competing with foreign rivals. He pointed out that one of the most crucial ways to enhance our country's competitiveness is access to qualified workforce and appropriate financing.

Karadeniz expressed that manufacturers unable to access financing are deprived of realizing new technology and machinery investments, which often leads to delays in R&D projects. He highlighted that high interest rates, which have risen to as high as fifteen percent, have negatively impacted manufacturers' savings and directly restricted Turkey's export capacity.

Karadeniz stated, “These challenges not only affect production but also threaten employment in the sector.” High interest rates and credit issues are hindering the growth of particularly small and medium-sized enterprises, putting the integrity of the sector at risk.

Articles and reports provide supporting data regarding these challenges faced by manufacturers. The economic situation in the country and the functioning of the credit system are critical for the sustainability of the plastic industry. Therefore, it has become inevitable to urgently call on the authorities for solutions in this regard.