China’s ZTE doubles down on Turkey investment
Telecom giant hopes to make Turkey its regional ‘technology hub’
Chinese telecoms equipment and systems company ZTE has agreed to increase its investment in Turkish telecom Netas, Anadolu Agency reported Wednesday.
Under the deal, ZTE will expand its presence in Turkey with a “center of excellence for its GSM-R development, center of maintenance, repair, and support for Europe, the Middle East and Africa, and a training center called ZTE Netas Academy for EMEA.”
At the signing ceremony in Ankara, Turkish Prime Minister Binali Yıldırım touted the deal, saying that products of the investors will have access to a US$30 trillion market. He added that “the investment in Turkey’s Netas is ZTE’s largest investment abroad at a single time.”
Yildirim also said a focus on the sector is essential for Turkey to reach its economic goals.
“We have to focus on information and communication technologies,” Yildirim said. “If Turkey cannot have these [software development] platforms, in real terms, we cannot have technology, knowledge….Our next priority will be the development of these platforms.”
Netas is a manufacturer and supplier of telecommunications equipment and systems integration services, operating in Turkey and in markets in the Middle East.