Turkey

As the bridge between Europe and Asia, Turkey has long been considered a center for the exchange of ideas, culture and commerce.  After breakneck economic expansion in 2010-2011 of 9% and a subsequent slowdown in 2012 initiated by Turkey’s central bank, the Turkish economy is predicted to heat up once again in 2013 with a predicted growth of over 4% and is expected to be in the top ten fastest growing economies through 2060.  With economic troubles still lingering in Europe, Turkey has sensed an opportunity and set forth to position itself as “the China of Europe”.

In June of 2012, as a stimulus for new investment the Turkish government published a package of New Strategic Investment Incentives drawn up by the Ministry of Economy.  These incentives include VAT reductions, tax reductions and other favorable policies for Foreign Direct Investment.  Additionally, Prime Minister Recep Erdogan has laid out a series of economic, social and infrastructure goals for the next ten years in his “2023 Vision” initiative.

This founding member of the G-20 has key economic sectors in automotive, shipbuilding,  construction, building materials, home appliances, electronics, textiles, petrochemical products, mining, and machinery.  Turkey’s automotive industry produces over 1 million vehicles per year and is ranked 16th in the world.  Recent high-tech areas of rapid growth in Turkey include IT, Telecommunications, Energy and Renewables.

Turkey is well positioned to become a nexus of energy transfer due to its unique geographical position. Turkey stands out with energy paths from the natural gas rich countries like Azerbaijan and Russia into mainland Europe. Additionally, Turkey is positioned to pass on renewable energy sources to Europe by becoming a transfer point for solar power produced in the North African region.

SIRS is teamed with local Turkish Partner McBDC to provide specialized assistance to foreign companies in their business and technology expansion into the Turkish market.   We offer top quality business development, sales and account management support, from market analysis to setting up your subsidiary.  Areas in which we specialize include the following;

 

  • Information Technology and Telecommunications

  • Chemicals

  • Construction Materials, Raw Materials

  • Iron and Steel Trade

  • Construction, Commercial Real Estate Valuation and Investments

  • New Media

  • Start Up-Consulting and Business Development

  • Franchising

  • Local Government Contracts (Project and Delivery)

 

for more information please send inquires to either:

Harumi Kato (Japanese, English) turkey@insightinterasia.com

Dr. Cem Bulent Unal (Turkish, English) turkey@insightinterasia.com