Mehmet Şimşek announces 'important program': We aim to reduce it permanently

Treasury and Finance Minister Mehmet Şimşek made a statement regarding the Investment Committed Advance Credit program announced by the Central Bank.

Quoting the post by Minister of Industry and Technology Mehmet Fatih Kacır on his X account, Şimşek noted the following:

"An important program. We will provide strong support for the production of high-tech products that have a significant share in foreign trade. We aim to permanently reduce the current account deficit.

In the process, the Ministry of Industry and Technology will examine technical competence, banks will examine financial feasibility, and the Central Bank will make the final decision."

Önemli bir program.

Dış ticarette önemli payı olan yüksek teknoloji ürünlerin üretimine güçlü destek sağlayacağız. Cari açığı kalıcı olarak azaltmayı hedefliyoruz.

Süreçte teknik yeterliliği Sanayi ve Teknoloji Bakanlığı, finansal fizibiliteyi bankalar inceleyecek, nihai… https://t.co/4llTJzAw9I

— Mehmet Simsek (@memetsimsek) November 27, 2023

100 BILLION TL LIMIT EVERY YEAR

The Central Bank had announced the new Investment Committed Advance Credit Program, which focuses on technological and strategic investments and is planned to allocate a limit of 300 billion TL over three years, with 100 billion TL annually.

Minister Kacır had stated that as the Ministry of Industry and Technology, they have published the Strategic Priority Product list consisting of 281 products and the Technology Areas list consisting of 261 headings for investment projects of 1 billion TL and above, for which they will conduct technology and strategy evaluations.

News Source: 12punto