Posted on 05 November 2010
Nihat Ergün, Turkish minister for industry and trade has said that Turkey’s first “Silicon Valley” will be based between Kocaeli and İstanbul.
Publication Today’s Zaman has learned that the valley will be span 1100 acres of land, in what is recognised as the most industrialised region of Turkey. Ergün said the plan will be brought to fruition soon once works are completed by his ministry.
Turkey’s equivalent to Silicon Valley will be responsible for the completion and implantation of 180 technological advancement projects recently initiated in Turkey. The main one of these is the development of a mobile software infrastructure, that will allow customers to purchase metro, bus, ferry and flight tickets using their mobile phone. Ergün said most of the leading GSM companies are very interested in that project.
Silicon Valley in America provides thousands of jobs to an area which otherwise would struggle to support the population’s need for employment.
Turkey has emerged from the recession as one of the fastest growing economies in the world. Stability in the banking sector, and fiscal stability are combining with the growth to breed never-before-seen levels of investor confidence in Turkey. But unemployment is like the elephant in the room.
Unemployment is falling, but it is still far too high. Recent announcements from retail and industry giants like Ford and Tesco bode well for the future, and the Turkish equivalent of Silicon Valley will be another nail in the coffin of high Turkish unemployment.