Industry dictionary for beginners

9.11.2022 -

Industry is producing more than something. It has vital importance in the three main sectors of the economy (agriculture, industry, services). If we compare Turkey to a skier going fast on an ice sheet, the thickness of the ice sheet represents the share of industry in the economy. The speed of the skier is also the industrial production… Here you are in the dictionary;

  • The founders of the Republic understood the importance of giving importance to industry and created industrial establishments whose positive effects continued until today.
  • Instead of industrializing agriculture in order to transform the predominantly agriculture-based society into an industrial society, we were unable to get rid of agriculture.
  • For many years, the industrial sector was tried to be developed with the incentives of the public. Even strategy documents were produced, but we could not stick to any of them. At this point, we realized that the industry still has a long and difficult road to go.
  • Today, thankfully, our success stories in the industry have reached undeniable levels. We have shining examples in fields such as machinery, defense, textile, food.
  • The problem is the industry's access to finance for production. A poorly managed economy, far from paving the way for the industrialist, is slowing it down, suffocating it with cash flow risks, and doomed to debt.
  • In this geography where companies are poor and bosses are rich, we need to be very careful about our industrialization steps. Because even our most established industries are struggling with poorly managed macroeconomic data.
  • It is not enough to reduce interest rates on the grounds that we will increase production and increase growth, being able to give loans at this interest. Industrialists today have difficulties in finding working capital, let alone new investment. This reminds us that the economy management should revert from the mistake of “cutting the branch on which it is mounted” as soon as possible.
  • Another threat is the disintegration of the country's industrial spirit. I know that the second or third generation in Nice wanted to close the industrial facility in the city and open a shopping mall or restaurant.
  • What we need; In the field of industry, which we have already proven, new qualifications should be put on the achievements of the Republic, with trained manpower, advanced technology and global competencies.

What is pleasing; Turkey has an industry. Even if the added value is low, we have an effort. The ISO 500 studies of the Istanbul Chamber of Industry remind us in which areas our industry needs further improvement areas.

The share of advanced technology in our industrial production still has not exceeded single-digit percentages, and we are aware of this. We are witnessing such an awakening in Anatolia. Organized industrial zones, R&D centers, companies, factories; strives for more qualified production.

The industrialist spirit, which I wandered around the country a quarter of a century ago and called the Anatolian Tigers, has started to develop, albeit slowly, from quantity to quality. Two main criticisms can be; 1-efforts are not supported, 2-cooperation is insufficient.