Turkey eyeing $3.5 billion budget on hi-tech industry
The $3.5 bln government package will also be funneled towards takeovers of foreign hi-tech companies
The Turkish government on Friday announced a $3.5 bln program aimed at bolstering the country’s domestic hi-tech industry.
Under the planned program, Turkey will aim to reduce the imports of smart phones, tablets, computers, fiber-optics and household electronic devices and manufacture them locally, Turkish economy minister Nihat Zeybekci said, Kuwait’s state news agency KUNA reported.
The $3.5 bln government package will also be funneled towards takeovers of foreign hi-tech companies in the coming five years, Zeybekci said.
He added the measures have been taken to levy high taxes on imported products and to counter dumping by foreign state-owned hi-tech companies within two months.
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