Conexio consulting

Turkey 2024 Investment Program has been published

According to the 2024 Türkiye national budget, approximately 1 trillion 7 billion TL will be allocated to 12.041 projects, 3.799 of which are structural projects. The highest share will be allocated to transportation, communication and education sectors.

Transportation and communication sector will receive the highest share of the investment allocation, 31.7 percent. This year, 319 billion TL will be allocated in transportation sector. In line with the aim of improving rail freight and passenger transportation, 27.5 billion liras will be allocated to the Ankara-İzmir High Standard Railway project, 16.3 billion TL to the Mersin-Adana-Osmaniye-Gaziantep High Standard Railway project, and 14.2 billion liras for the Halkalı-Kapıkule High-Speed Train project. This sector is followed by the education sector with a share of 15 percent. 150.8 billion TL will be allocated to the education sector. Elementary education will receive 99.5 billion TL.

The mining sector, which has a 10.5 percent of share within total investment, will receive 106 billion TL this year, while the energy sector, which has a 7.5 percent share, will receive 75.7 billion TL. Significant project-based developments are expected in these sectors.

53.8 billion TL will be invested in natural gas and oil explorations and production activities carried out to reduce external dependence.

The agriculture sector, which has a 10 percent share in investment allocations, will receive 101 billion liras this year. Within the scope of agricultural irrigation investments, approximately 130.000hectares of land will be open to irrigation, with an amount of 51 billion TL to be allocated to the General Directorate of State Hydraulic Works. On the other hand, 4 small fire tanker planes and 1 fire extinguishing helicopter will be added to the General Directorate of Forestry’s aircraft fleet this year to fight forest fires.

The health sector’s share of investments this year will reach 9.4 percent. In order to further improve the progress achieved in physical infrastructure, access to service and service quality and to reduce regional disparities, 16,822 beds and 486 medical units will be put into service this year, included in the 82.7 billion TL allocated to the Ministry of Health. In addition, the construction of 17 hospitals with a capacity of 19,250 beds will continue and 6 new hospital projects with a capacity of 6,450 beds will be completed and put into service.

In order to create more investment areas for investors and entrepreneurs and to increase production and employment, the Ministry of Industry and Technology will receive 15.2 billion liras for the manufacturing industry sector. In this context, 5 billion TL was allocated for the construction of industrial areas in the 2023 earthquake regions, 5.3 billion TL for organized industrial areas’ projects, and 2.8 billion TL for small industrial site projects.

In order to increase the R&D and innovation capacity of the country, 21.8 billion TL was allocated in the national investment budget, allocated within the scope of research support programs such as TÜBİTAK TARAL, research infrastructure projects in universities and public institutions, and the Research Universities Support Program.