WHY INVEST IN TURKEY, 20.6.2017

WHY INVEST IN TURKEY

1.SUCCESSFUL ECONOMY

Booming economy; more than tripling its GDP, reaching USD 857 billion in 2016, up from USD 231 billion in 2002 (TurkStat)

Stable economic growth with an average annual real GDP growth rate of
5.6 percent between 2002 and 2016 (TurkStat)

Promising economy with a bright future as it is expected to become one of the fastest growing economies among the OECD members during 2017-2020 with an average annual real GDP growth rate of 5.4 percent (OECD)

17th largest economy in the world and 6th
largest economy compared with the EU in 2016 (GDP at PPP, IMF WEO)

Institutionalized economy fueled by USD 145 billion of FDI in the last decade (CBRT)

A dynamic and mature private sector with USD 143 billion worth of exports and an increase of 300 percent between 2002 and 2016 (TurkStat)

2. POPULATION

A population of 79.8 million (2016, TurkStat)

Largest youth population compared with the EU (Eurostat)

Half the population under the age of 31 (2016, TurkStat)

Young, dynamic, well-educated and multi-cultural population

population of 79.8 million (2016, TurkStat)

3. QUALIFIED AND COMPETITIVE LABOR FORCE

Over 30.5 million young, well-educated and motivated professionals (2016, TurkStat)

Increasing labor productivity

Approximately 800,000 students graduate annually from over 183 universities
(2016, CoHE)

More than 950,000 high school graduates with around half from vocational and technical high schools (2016, Ministry of National Education)

4. LIBERAL AND REFORMIST INVESTMENT CLIMATE

The second biggest reformer among OECD countries in terms of its restrictions on FDI since 1997 (OECD FDI Regulatory Restrictiveness Index 1997- 2016)

Business-friendly environment with average of 6.5 days to set up a company, (World Bank Doing Business Report, 2017)

Highly competitive investment conditions

Strong industrial and service culture

Equal treatment for all investors

Around 52,700 companies with international capital in 2016 (Ministry of Economy)

International arbitration

Guarantee of transfers

5. INFRASTRUCTURE

New and highly developed technological infrastructure in transportation, telecommunications and energy

Well-developed and low-cost sea transport facilities

Railway transport advantage to Central and Eastern Europe

Well-established transportation routes and direct delivery mechanism to most of the EU countries

6. CENTRALLY LOCATED

A natural bridge between both East-West and North-South axes, thus creating an efficient and cost-effective outlet to major markets

Easy access to 1.6 billion customers in Europe, Eurasia, the Middle East and North Africa

Access to multiple markets worth USD
24 trillion of GDP

7. ENERGY CORRIDOR AND TERMINAL OF EUROPE

An important energy terminal and corridor in Europe connecting the East and the West

Located at a close proximity of more than 70 percent of the world’s proven primary energy reserves, while the largest energy consumer, Europe, is located right to the west of Turkey, thus making the country a linchpin in energy transit and an energy terminal in the region

8. LOW TAXES & INCENTIVES

Corporate Income Tax reduced from 33 percent to 20 percent

Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones, including total or partial exemption from Corporate Income Tax, a grant on employer’s social security share, as well as land allocation

R&D and Innovation Support Law

Incentives for strategic investments, large-scale investments and regional investments

9. CUSTOMS UNION WITH THE EU SINCE 1996

Customs Union with the EU since 1996 and Free Trade Agreements (FTA) with 27 countries (Ministry of Economy)

More FTAs underway

Accession negotiations with the EU

10. LARGE DOMESTIC MARKET

62.2 million broadband internet subscribers in 2016, up from 0.1 million in 2002 (ICTA, TurkStat)

75.1 million mobile phone subscribers in 2016, up from 23 million in 2002 (TurkStat)

58.8 million credit card users in 2016, up from 16 million in 2002 (The Interbank Card Center of Turkey)

181 million airline passengers in 2015, up from 33 million in 2002 (TurkStat)

25.3 million international tourist arrivals in 2016, up from 13 million in 2002 (TurkStat)


Atatürk

Yunus Demirer Ambassador
Monday - Friday

09:00 - 12:30 / 14:00 - 18:00

Consular Section: 09:00-12:00
1/1/2021 1/1/2021 New Year Day and Independence Day
1/6/2021 1/6/2021 Epiphany
4/2/2021 4/5/2021 Easter
5/1/2021 5/1/2021 Labor Day
5/8/2021 5/8/2021 Victory over Fascism Day
5/13/2021 5/13/2021 Ramadan
7/5/2021 7/5/2021 St. Cyrilus, St. Methodius Day
7/20/2021 7/20/2021 Eid al-Adha
8/29/2021 8/29/2021 Slovak National Uprising Day
9/1/2021 9/1/2021 Constitutions Day
9/15/2021 9/15/2021 Our Lady of seven Sorrows
10/29/2021 10/29/2021 Republic Day of Turkey
11/1/2021 11/1/2021 All Saints' Day
11/17/2021 11/17/2021 Day of Struggle for Liberty and Democracy
12/24/2021 12/26/2021 Christmas