$400 million green transformation initiative from Turkey

Turkey has taken an important step to accelerate its industry-focused transformation process. Minister of Industry and Technology Kacır, in a presentation at the TBMM Planning and Budget Commission, announced the launch of a $400 million green transformation program within the framework of the 2026 budget. This program aims to support environmental sustainability while also increasing Turkey’s industrial production capacity.

Minister Kacır highlighted that the Turkish economy has recorded uninterrupted growth for the last 20 quarters, stating that the national income is expected to exceed $1.5 trillion by the end of the year. He expressed his belief that this growth will make Turkey a stronger player in the global economy.

Providing information about the state of Turkish industry, Kacır noted that Turkey’s industrial production index has increased by 30.6% compared to pre-pandemic levels. This figure highlights Turkey among the G20 countries. Additionally, he emphasized that industrial production in countries such as Germany, France, and Italy is still below pre-pandemic levels. This situation presents an opportunity for Turkey to increase its market share.

While further details on the content and objectives of the green transformation program were not provided, it is anticipated that this new initiative will make significant contributions to Turkey’s industry and represent a major step toward reducing environmental impacts. Along with smart industrial applications, this program is expected to provide significant momentum in Turkey’s industrial production and competitiveness.