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Istanbul technology city "Teknopark istanbul"

Istanbul technology city
Publication date: 2020-02-19 Category: Turkish Economic Affairs

About Technopark Istanbul

Technopark Istanbul is the largest technological compound in Turkey and is considered one of the largest technological compounds in Europe.

The project was launched, and its first phase was launched at the end of August 2013 where it was established on the Asian side of Istanbul.

In the prearranged plan, this project shall include and host research and development laboratories for about a thousand domestic and foreign technological companies.

First Phase of Technopark Istanbul

According to Mr. Turgut SINAL, General Manager of Technopark Istanbul, the first phase of the total four phases of this high-tech project was fully booked in 2013 by hundreds of companies, as dozens of them are foreign companies.

According to these statements, Technopark Istanbul is being developed in partnership with Savunma Sanayii Mustesarligi / Undersecretariat for Defense Industries (SSM) and Istanbul Chamber of Commerce / Istanbul Ticaret Odası (ITO), as well as academic submissions provided through a number of universities in Istanbul. Technopark Istanbul offers low tax exemptions and operating costs for the companies located in Technopark Istanbul under the Turkish Investment Incentives Scheme. This $ 4 billion project is located next to Sabiha Gokcen International Airport, and near many major land and sea routes that allow investors to take full advantage of Turkey's strategic location.

Memorandum of Agreement of Mutual Understanding and Cooperation

At the beginning of last year 2019, Istanbul Technological City "Technopark Istanbul" signed a memorandum of agreement of mutual understanding and cooperation with industrial companies such as CTech, Yonga Technology, Microelectronics, Anda Technology, and Technopolis Moscow, the main motive of the new industrial Moscow.

The agreement was signed during a visit by Technopark Istanbul and industrial companies' representatives to the site of the special economic zone in Pechatnikakh in Moscow, where Igor Echenko, the General Manager of Technopolis Moscow, indicated that there are prospects for mutual cooperation with Turkish companies.

For his part, Arslan Ayoubov, Deputy Director General of Technopolis Moscow in charge of the strategy, said that the agreement was signed to protect the bilateral interests of Technopolis Moscow and its Turkish partners, adding that "the signed agreement will help in ensuring exchange of experiences, cooperation, technology transfer and strengthening partnerships in the international arena".

Second Phase of Technopark Istanbul

On Sunday 16-02-2020, Turkish President Recep Tayyip Erdogan inaugurated the second phase of Technopark Istanbul. "When completed, Technopark Istanbul will attract foreign companies through its qualified infrastructure, workshop, laboratories, and social facilities,"Erdogan said in a speech at the opening ceremony, according to the New Turk Post, quoting several excerpts from his remarks.

He added that the complex will be a place for more than a thousand research and development companies in an area of ​​1.5 million square meters and will include about 30 thousand people. The complex will operate on research and development projects for strategic sectors including defense, information technology and telecommunications, energy, biotechnology, space and aviation.

Turkish President Recep Tayyip Erdogan considered Technopark Istanbul as the future for Turkey, as it would attract the best universities and top researchers in the world to conduct research studies.

Erdogan continued: "The investment climate started to recover with lower costs of financing, and we are now seeing signs of success in all sectors, from cars to Turkey real estate ".

The Turkish president stressed that this recovery gives confidence to the Turkish economy, noting that industrial production in the country has set a record, while the demand for manufacturing is increasing.

The Turkish president stressed that "the time has come for invest in Turkey, and there will be investment to increase production and employment."

Technopark Istanbul is expected to generate an annual income of $10 billion with full operating status.


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