Minister of Industry and Technology Mehmet Fatih KACIR stated, "The rapid decline in Turkey's credit risk premium is a significant indicator that the Turkish economy is on the right track. We foresee that investments in Turkey will accelerate in the upcoming period."
Minister KACIR answered questions from the press after meeting with venture capital fund managers in London, the capital of the United Kingdom, where he attended a series of programs.
He highlighted that Turkey's entrepreneurship and technology ecosystem had made tremendous progress over the past 20 years, noting that their numbers have also increased as the scale of technology initiatives had grown.
"Turkish Technology Startups Received $4 Billion in Investment"
He shared that more than 10,000 Turkish technology companies were continuing their innovation and R&D-focused work in over 100 technoparks, and added:
"Technology startups globally often grow with investments from venture capital funds. We are also striving to expand venture capital investment funds in Turkey. Establishing new venture capital investment funds in Turkey is one of our important goals. Additionally, we aim for global investment funds to invest in technological ventures in Turkey. To this end, we have taken many steps in recent years.
We launched programs that enable public resources to invest in venture capital funds as a fund of funds, thereby creating a leverage effect. Between 2010 and 2020, the scale of investment in technology companies and startups in Turkey was about $100 million annually. Turkish technology startups received $4 billion in investment between 2020 and 2023.
"Turkey Will Bring New Success Stories to Life"
The Minister also mentioned that they had discussed the improvements in Turkey's macroeconomic indicators in detail with both venture capital fund managers and the UK Investment Minister.
He said, "The rapid decline in Turkey's credit risk premium is a significant indicator that the Turkish economy is on the right track. As a result, we foresee that investments in Turkey will accelerate significantly in the upcoming period. Our counterparts share the same view, and we will intensify our efforts to attract these new capital flows to Turkey quickly, aiming to channel this resource largely into value-added production, technological transformation, and technological entrepreneurship. Turkey will bring new success stories to life, and this time, more powerfully than before, with value-added, competitive, efficient production and high-tech initiatives playing the lead role in this story," he concluded.
