Turkish automotive industry seeks new investments
Turkish automotive industry, one of the main supporters of Turkish economy and impulsive force of exports, requires reinforcement for investments in automotive. According to the common announcement released by Turkey's Automotive Manufacturers Association (OSD) and Automotive Components Manufacturers Society, it is stated that automotive industry needs new investments. The announcement also adds that the investments to basic and subsidiary industry have to be levied lower and supported in order not to lose new and large projects. It is also stated that the investment incentives that were provided in the past years had an important power on the current achievements. These incentives provided advance technology and business opportunities to produce commodities for global markets to little and medium scale companies. These companies constitute the most significant and strong factor of the Turkish industry nowadays with 40,000 employments in basic industry and 200,000 employments in subsidiary industry. Turkey now needs a new impulse to increase the competitive strength in global markets with original design and higher added value. With the new investments, the automotive sector's production is expected to increase 2 million units per year.