The 100-day plan
Erdogan has set some ambitious goals for the first three months of his new presidency
President Erdogan disclosed the action plan that includes 400 projects to be completed during the first 100 days of the new presidential system. 1 Cost of projects
The first 100-day action plan sets out numerous goals including, but not limited to, energy, economy, industry, foreign trade, environment and urbanization, defense, education, health, technology, tourism and agriculture as well as public finance. The execution of 400 projects with an investment value of TRY 46 billion ($9.1 billion) in the first 100 days will be coordinated and monitored by Vice President Fuat Oktay. President Erdogan noted that each one of the 16 ministries have prepared a list of prioritized projects in due consideration of budgetary discipline and a total of 1,000 projects have been determined.
2 Defense industry
President Erdogan particularly stressed the importance of developing a domestic defense industry, pointing out that currently 65 percent of defense industry products are developed by means of domestic resources. In reference to continued defense efforts, the president said that 48 out of the 400 projects are related to the defense industry, making it a top priority for his government.
3 Canal Istanbul
Elaborating on the massive projects of the Environment and Urbanization Ministry, President Erdogan reiterated his determination to carry out Canal Istanbul, the mega-project that will add an alternative strait to the Bosporus by connecting the Black Sea to the Marmara Sea in northern Istanbul. According to the action plan, the environmental impact assessment and project surveys will be submitted for approval and the project is planned to be completed by 2023.
4 Panda bonds
A new approach going forward will be the diversification of foreign borrowing instruments. To that end, Erdogan explained, Turkey has recently drawn investments from China. “In order to diversify its foreign borrowing resources, Turkey is issuing Chinese Yuan denominated bonds for the first time,” he said.
5 The development bank
Turkey will introduce a development banking system similar to the ones implemented in developed countries. “The development bank will contribute to lowering the current account deficit and support the manufacturing of high added-value technological products,” Erdogan said.
According to the 100-day action plan for the Trade Ministry, the total number of customers of the Export Credit Bank of Turkey (Turk Eximbank), and in particular the share of small and medium-sized enterprises will be increased. Also, country-focused market entry strategies will be prepared based on Turkey’s priorities. Turkey’s aim is to establish modern wholesale markets and ensure product traceability. A digitalization of customs procedures and services through a single window system is also planned. In addition, a new generation of Free Zones will be established while existing Free Zones will be encouraged to focus on value-added investments and exports.
7 Energy sector
President Erdogan highlighted that Turkey will continue heavily investing in energy projects to boost its natural gas storage capacity and to become an energy trading hub. The construction of Turkey’s first nuclear power plant, Akkuyu, continues in the Mediterranean coastal city of Mersin in cooperation with Russia’s state-run company Rosatom. A second second plant in the Black Sea city of Sinop is in the works, he said, adding that a third is also planned for Thrace. “Turkey will continue its hydrocarbon exploration activities in the Mediterranean and drill exploratory wells in the upcoming period,” Erdogan said. The president also announced that the country will buy a second drillship soon.
8 Industrial subsidies
In terms of the Industry and Technology Ministry, the government aims to establish High Technology Support Programs for the development of high-tech products with domestic resources. It also aims to provide a financial support of TRY 1.225 billion to small and medium-sized enterprises (SMEs), especially in the technology and manufacturing sectors, for domestic production.
9 Other plans
The government also aims to increase the number of research and development (R&D) centers by 9 percent to 1,000 and design centers by 8 percent to 27. It also seeks to complete the master plan of the Ceyhan Energy Specialized Industrial Zone and to inaugurate production facilities for defense industrial plants on 22 hectares of land at the Karasu individual investment site. The government also aims to begin land assignment for investors within the Karapınar Energy Specialized Industrial Zone.
10 Foreign policy
Erdogan announced that consulates generals in Iraq’s Mosul and Basra will be re-opened. As for Turkey’s relationship with the U.S., he added: “We expect Turkey’s cooperation with U.S. regarding Syria’s Manbij to continue without being affected by other problems.” The Manbij deal between Turkey and the U.S. focuses on the withdrawal of the PKK-affiliated People’s Protection Units (YPG) from the northern Syrian city and stability in the region. It envisages deployment of Turkish forces to assure peace in the region and train local forces to establish and maintain security.