Turkey's $400 million green transformation initiative

Turkey has taken a significant step to accelerate its industry-focused transformation process. Minister of Industry and Technology Kacır announced in his presentation at the TBMM Planning and Budget Commission 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 while also increasing 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 player in the global economy.

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

While no further details were provided about the content and objectives of the green transformation program, it is anticipated that the Minister's new initiative will make significant contributions to Turkey’s industry and represent a major step towards reducing environmental impacts. Along with smart industry applications, this program is expected to give a significant boost to Turkey’s industrial production and competitiveness.