The German automotive giant Volkswagen founded Volkswagen Turkey Automotive Industry and Trade Inc. based in Manisa. The capital of the company was determined as 943.5 million pounds.
Volkswagen is expected to decide whether to invest in Turkey, Manisa, Turkey established based unit. According to the information in the Trade Registry Gazette, the company’s name was «Volkswagen Turkey Automotive Industry and Trade A.Ş.»
With the assesment on the issue emphasizing that the investment is very important, Automotive Supply Industry Association (TAYSAD) Chairman Alper Kanca said “Volkswagen’s arrival in Turkey actually constitutes an important indicator in a few areas. One of them is, in the last 20 years in automotive sector, Turkey had not a new automobile factory investment. For the first time in a long period of time, a new brand is invested. An investment that we want to come to Turkey since many years is finally coming.” Alper Kanca continued “Another important area outside the automotive situation in general shows confidence in Turkey’s economy. A large organization like Volkswagen, making a huge investment in Turkey and not even a one time purchase, a long term investment will make other German companies lead their ways to Turkey. Small and medium-sized companies had a considerable amount of very companies that want to cooperate with Turkey. They were somewhat distracted by influences from the German media and influenced by German politicians. This will now change with Volkswagen’s investment and the new wave and the wind. German companies in particular places called domino effect starting with the automotive side movement towards Turkey will start investing. We see examples of this. There are German companies who apply to our Association and want to get information from TAYSAD. This is important for the Turkish automotive industry. ”
Germany, ranking 1st among foreign investments in Turkey with 6 thousand German capital companies, with these investments it provides more than 60 thousand employment.
President Erdogan, with investments in Turkey, claiming that they held a very productive meeting with German firms, said «these companies was gratifying interest in Turkey. We want to promote the entry of these new investments.»
Erdogan, «Siemens, Bosch, are the companies in Turkey for 150 years, 130 years companies. By all the negotiations with these companies, we have them followed closely through our investment Office.» he said.
Erdoğan, once in his Germany visit, emphasized that the companies who have investments in Turkey like BMW, Mercedes, MAN are also in close follow-up. They will be encouraged and kept under close monitoring through the investment office.
Turkey, in terms of German automotive sector, is both an important market and a center of production. German companies with investments in Turkey plays an important role in Turkey’s exports.
The new decision of Presidency was published to encourage investments in the Official Gazette the day before. According to the decision, the Minister of Industry and Technology was authorized to encourage investments of 5 billion liras in size and complete new investment.