Turkey's $400 million green transformation initiative

Turkey has taken an important step to accelerate its industry-focused transformation process. Minister of Industry and Technology Kacır announced in his presentation at the TBMM Planning and Budget Committee that they have launched a 400 million dollar green transformation program within the framework of the 2026 budget. This program aims to support environmental sustainability as well as increase Turkey's industrial production capacity.

Minister Kacır emphasized that the Turkish economy has recorded uninterrupted growth for the last 20 quarters and stated that the national income is expected to exceed 1.5 trillion dollars by the end of the year. He expressed his belief that this growth will make Turkey a stronger actor in the global economy.

Providing information about the state of Turkish industry, Kacır noted that Turkey's industrial production index has shown an increase of 30.6 percent compared to pre-pandemic levels. This figure highlights Turkey among the G20 countries. On the other hand, he pointed out that industrial production in countries like Germany, France, and Italy is still below pre-pandemic levels. This situation presents an opportunity for Turkey to increase its market share.

While more information about the content and objectives of the green transformation program has not been provided, it is anticipated that the Minister's new initiative will significantly contribute to Turkey's industry and be a major step towards reducing environmental impacts. Together with smart industrial applications, this program is expected to provide a significant momentum in Turkey's industrial production and competitiveness.