Turkey to welcome USD 900 million investment by GE
Turkey enjoys its position as a spot of attraction for international investments from global giants.Among many companies interested in operating in Turkey, General Electric (GE) seems to be coming with the biggest potential namely an investment amount of USD 900 million.
The global giant plans to undertake investments in healthcare and infrastructure projects in Turkey over the next 3 years. The decision to realize said huge package was announced in a press meeting attended by Zafer Caglayan, Turkey’s Minister of Economy.
Çağlayan’s comment on the issue was “Turkey’s new investment incentive scheme appears to have been well-analysed by GE. The aims of Turkey’s new incentive regime and GE’s investment package is a perfect match”. Based on the new incentive scheme designed by the government the country aims to largely reduce dependency on imported intermediate goods and attracting investments of strategic nature. Within this framework, the investment package passed by the government includes production of wind turbines in Turkey, as well.
It is reported that the country has a growing demand for energy and a total investment of USD 130 billion in power generation in the next decade is a must to realize.
To support this fact the minister said “GE’s selection of Turkey as a site for these investments is crucially important. The specifics of the investment plan will be revealed in the coming months..”.
On the other hand GE plan on Turkey is understood to focus on infrastructure and innovation as referred to by Vice Chairman John Rice. “GE’s planned investments in Turkey benefit from the opportunities offered by the rapidly growing economy and aligns well with the country’s 2023 vision..” the VC is reported to say.
Turkey has long ago declared its target to become one of the world’s top 10 economies by 2023 and set ambitious goals in energy, infrastructure, transportation and healthcare.It is known that giant conglomerate GE has been active in Turkey for 64 years, operating in aviation, transportation, healthcare and energy industries.