Post: Turkey to offer $30 billion in high-tech incentives

Istanbul, His Excellency Recep Tayyip Erdogan, President of the Republic of Trkiye, announced that Trkiye will provide $30 billion in financial grants and tax incentives for high-tech investments. His Excellency unveiled the high-tech incentives programme, aiming to position Turkey as a regional production hub for electric vehicle batteries, with $4.5 billion allocated for incentives in this sector. His Excellency added that a $5 billion package will be launched to increase electric vehicle production capacity to at least one million cars annually. His Excellency also announced support for wind energy component manufacturing and a grant of up to $8,000 per megawatt for electronic chip investments to establish 15 gigawatts of solar energy capacity. Turkey aims to attract at least $20 billion in private sector investments, significantly contributing to its technological development process. Source: Bahrain News Agency