Turkey offers abundant opportunities in a wide variety of sectors where it has a competitive edge, Here you the Top 10 reasons to invest in Turkey:
1- ROBUST ECONOMY:
The Turkish economy posted record growth and climbed from 18th place to 13th globally from 2003 to 2019.
2- LARGE DOMESTIC AND REGIONAL MARKETS:
Turkey’s performance in economic development saw its income per capita increase from USD 3,581 in 2002 to USD 9,632 in 2018.
3- STRATEGIC LOCATION:
Turkey is a natural bridge between both the East-West and the North-South axes, thus creating an efficient and cost-effective hub to major markets. it offers easy access to 1.5 billion people invest in Turkey and a combined market worth of USD 24 trillion GDP in Europe, MENA, and Central Asia within a 4-hour flight radius, investing in Turkey, is the best choice.
4- FAVORABLE DEMOGRAPHICS:
The young and well-educated population of Turkey is a great asset as investors are facing considerable challenges elsewhere in Europe with aging and shrinking populations.
Turkey offers excellent opportunities with its growing, young, and dynamic population – the driving force behind a strong labor pool and a lucrative domestic market, invest in Turkey, is the best choice.
Turkey’s population was registered as 82 million in 2018. It is expected to reach 86.9 million by 2023, and 100.3 million by 2040, according to the Turkish Statistical Institute (TurkStat). The population is projected to maintain its growth momentum until 2069 when it will peak at 107.6 million.
5- SKILLED AND COMPETITIVE LABOR FORCE:
Turkey’s overall labor force is around 32.7 million people, which makes the country the 3rd largest labor force in Europe.
Turkey’s young population is an important contributor to labor force growth and has boosted the country’s rank over peer countries. Turkey has posted the largest labor force growth among the EU countries, investing in Turkey, is the best choice.
6- CONTINUOUS REFORM PROCESS:
The Turkish government has always prioritized reforms for a qualified workforce, innovative production, sustainable growth, a sustainable environment, and international cooperation for development.
In 2002, the average number of days that it took to set up a company was 38, whereas today it has been reduced to 6.5 in line with the reform process, investing in Turkey, is the best choice.
A sweeping reform process was started back in the early 2000s and is continuing even today.
7- LIBERAL INVESTMENT CLIMATE:
Turkey’s investment legislation is simple and complies with international standards while offering equal treatment for all investors.
The fundamental parts of the overall investment legislation include the Encouragement of Investments and Employment Law No. 5084, Foreign Direct Investment Law No. 4875, the Regulation on the Implementation of the Foreign Direct Investment Law, multilateral and bilateral investment treaties, and various laws and related sub-regulations on the promotion of sectorial investments, investing in Turkey, is the best choice.
8- LUCRATIVE INCENTIVES:
Applicable both for greenfield and brownfield projects, Turkey offers a comprehensive investment incentives program with a wide range of instruments that helps to minimize the upfront cost burden and accelerate the returns on investments, investing in Turkey, is the best choice.
These incentives may also be tailored for projects in priority sectors classified as key areas for the transfer of technology and economic development. In addition, the Turkish government provides generous support programs for R&D and innovation projects, employee training initiatives, and for exporters through various grants, incentives, and loans.
9- ADVANTAGEOUS R&D ECOSYSTEM:
The Turkish government has set the target of increasing the share of R&D investments within the overall public budget to 2%. As of 2018, this figure has already increased above 1 percent – with the expectation to reach 2 percent over the next several years, investing in Turkey, is the best choice.
Extensive R&D incentives in Turkey are further supported by well-educated and highly qualified labor force, competitive cost advantages, and several global companies that are active in the market. All together these form a dynamic ecosystem in Turkey.
Number of Researchers (thousands)
10 – SECTORIAL OPPORTUNITIES:
Turkey offers abundant opportunities in a wide variety of sectors where it has a competitive edge.
Source: TurkStat, Ministry of Industry and Technology, SASAD, OSD, SBB; export values as of 2018, market values as of 2017; defense industry value as of 2018
- Reference: https://bit.ly/3jQQ3Fq
