The world\u2019s first ever global financial crisis\nthat emerged in the US in the last quarter of 2008 had a negative impact on the\nrest of the world, including Turkey, in the couse of time. The uninterrupted,\nrapid growth continuing since 2002 came to a standstill in 2009. Turkey\u2019s\nincreasing economic integration with the rest of the world, which was one of\nthe factors behind this rapid growth, has now ranked our country among those\nwhich have been hit hard by the global financial crisis.<\/p>\n\n\n\n
On the other hand, the global crisis has not\nchanged Turkey\u2019s strong position in the world and region. Turkey, which has\nbecome the 17th largest economy in the world and 6th in all Europe due simply\nto its entrepreneurs, qualified workforce and young, dynamic population without\nusing any natural resource or foreign financial support, is capable of\nsurviving this crisis.<\/p>\n\n\n\n
At the IMF-World Bank annual conference held in\nIstanbul in October 2009, it was argued that Turkey and South Africa would both\nbe touted among the \u201ccore countries\u201d of the G-20 countries, along with Brazil,\nRussia, China and India, which would play a more active role in the world\neconomy. At the same conference, the Managing Director of IMF, Dominique\nStrauss-Kahn, estimated that Turkey would record one of the highest growth\nrates in 2010.<\/p>\n\n\n\n
Turkey stands at the geographical crossroads,\nconnecting Europe, the Black Sea region, the Caucasus, the Central Asia and the\nMiddle East. In short, Turkey is a bridge bringing together East with West and\nNorth with South. Being an industrial giant in the region in an area from Italy\nto China, Turkey holds a share of %65 in the industrial import figures of the\nCentral Asian, Middle Eastern and South African countries combined.<\/p>\n\n\n\n
Turkey\u2019s legal framework also offers extremely\nattractive opportunities to investors, An entrepreneur, whether local or\nforeign, can establish a company in one day in Turkey. According to the World\nBank\u2019s 2009 Database on Business Creation, Turkey ranks above some countries\nlike Czech Republic, Italy, Poland, Romania, Slovakia and Spain in this respect\nand also above the average of OECD 3 years prior to the global financial\ncrisis, foreign capital inflow to Turkey was USD 50 billion. Number of foreign\nbusinesses operating in Turkey became 20 thousand.<\/p>\n\n\n\n
Union of Chambers and Commodity Exchanges of\nTurkey, is an umbrella organization of the Turkish private sector. Its\nPresident M.R\u0131fat Hisarc\u0131kl\u0131o\u011flu was elected Vice-President of the European\nAssociation of Chambers of Commerce and Industry (Eurochambres) on 15 October\n2009. This also demonstrates the importance attached by the European business\ncommunity to Turkey\u2019s on going growth in the region.<\/p>\n\n\n\n
Turkey\u2019s Infrastructure is Strong<\/strong><\/p>\n\n\n\n Turkey\u2019s strategic location is highly appealing\nto investors. Turkey\u2019s transport, communications and energy infrastructure is\nnew and equipped with high technology. Turkey\u2019s strategy for the energy sector\nis based on the goal of creating a secure environment and providing high\nquality services for the consumer. Turkey\u2019s Renewable energy potential offers\nnew, exceptional business opportunities to investors, The Law on Utilization of\nRenewable energy potential offers new, exceptional business opportunities to\ninvestors. The Law on Utilization of Renewable Energy Resources to Generate\nElectric Power in force encourages such types of investments and renders them\neven more attractive.<\/p>\n\n\n\n Energy Projects in Turkey<\/strong><\/p>\n\n\n\n Turkey will launch a number of large-scale\nenergy projects over the next 10 years, On the other hand, there are also many\nongoing natural gas and pipeline projects, which, once completed, will supply\nsecure energy resources to both Turkey and Europe.<\/p>\n\n\n\n Communications Infrastructure<\/strong><\/p>\n\n\n\n In 2008 in Turkey, the total number of mobile\nphone users reached 66 million and PSTN subscribers 22 million, while the total\nnumber of Internet service users and broadband users rose to 30 million and\nover 6 million, respectively, according to data published by the Ministry of\nTransport and Communications, The communications industry in Turkey has been\nimproved considerably in recent years following the privatization of a 55% of\nshares of T\u00fcrk Telekom. The diversification of services in the communications\nindustry via mobile phones and the Internet has created an attractive business\nenvironment for new investments.<\/p>\n\n\n\n Transport Infrastructure<\/strong><\/p>\n\n\n\n The total number of air passengers in Turkey\nreached 80 million in 2008. Turkey has 13 international and a total of 41\nairports, 64 thousand km of highway and a railway network of 11 thousand kms.\nThe length of the high-speed rail in service will be increased to 1.211 kms\nvery soon. The Ankara-Eski\u015fehir section of the Ankara-Istanbul high-speed rail\nline is now in service. The whole project is expected to be completed soon. The\ntotal length of the high-speed rail network in the country will be doubled once\nthe lines planned are completed.<\/p>\n\n\n\n Highly Competitive Workforce<\/strong><\/p>\n\n\n\n Turkey has skilled, highly motivated and\nqualified workforce of 24 million, more than half of which is under the age of\n30, offering highly competitive human resources. This is proven by the fact\nthat two international automobile manufacturers operating in Turkey state that\ntheir plants in Turkey are the most productive and highest quality ones among\ntheir other plants elsewhere. Employees working in countries with which Turkey\nhas signed bilateral social security agreements do have a right to choose\nwhether to stay in their national social security schemes, or not.<\/p>\n\n\n\n Investment Incentives<\/strong><\/p>\n\n\n\n In Turkey, the government offers a broad range\nof investment incentives, grants and guidance services to international\ninvestors in line with the relevant international regulations. New regulations\nhave been introduced to offer incentives for new sector- and region-specific\ninvestments. In general both domestic and foreign investors are equally\nentitled to tax and non-tax incentives. This fair treatment is achieved and\nsupported trough the Direct Foreign Investments Law.<\/p>\n\n\n\n The general investment investment incentive\nscheme includes mainly the following:<\/p>\n\n\n\n Special investment zones were created in order\nto develop an investor-friendly environment, providing access to state aids and\nwell-designed infrastructure.<\/p>\n\n\n\n Technology Development Zones \u2013 Technoparks<\/strong><\/p>\n\n\n\n A number of Technology Development Zones (TDZ)\nwere created in Turkey with a view top support research and development\nactivities and encouraging investment in high technology. There are currently\n18 TDZ for applied technology, and 13 others, which received official\nauthorization and are under construction, amounting to 31 in total. There are 6\nTDZ in Ankara, 3 in Istanbul and 3 in Kocaeli.<\/p>\n\n\n\n Key Advantages Offered by TDZ<\/strong><\/p>\n\n\n\n Industrial Zones<\/strong><\/p>\n\n\n\n Industrial zones are created to attract\nlarge-scale, technology-intensive investments. An investment made in an\nindustrial zone must be engaged in the advanced technology sector and cover an\ninvestment area of at least 1.500 squarmeters. Industrial zones also offer the\nsame advantages as those offered by Organized Industrial Zones (OIZ).<\/p>\n\n\n\n Key Advantages Offered by OIZ<\/strong><\/p>\n\n\n\n Organized industrial zones function as catalyst\nin spreading industries over to different cities. Today, there are 140 OIZ\nacross Turkey, housing nearly 37.000 companies. The turnaround time is\nsignificantly shorter for accessing utilities and obtaining the necessary\nbusiness licenses in these OIZ, each serving as a one-stop office. The Manisa\nOIZ ranks among the best 10 industrial zones to invest across the world, and\nthis shows how successful are the OIZ in Turkey.<\/p>\n\n\n\n In addition to the investment incentive scheme\nin Turkey (general investment incentives, large-scale investment incentives,\nregion-and sector-specific incentives employment incentives, R&D incentives,\netc.) investors operating in these OIZ are also offered the following key\nadvantages:<\/p>\n\n\n\n Free Trade Zones Special Status<\/strong><\/p>\n\n\n\n The free trade zones in Turkey are given a\nspecial status, exempting them from the customs area although they are located\nwithin the political borders of country. Free trade zones are exempt, either\nfully or in part, as the case may be, from Legal and administrative regulations\napplicable to all commercial, financial and economic activities in the customs\narea. There are currently 20 free trade zones in Turkey, providing easy access\nto international trade routes, to major domestic ports in the Mediterranean,\nAegean and Black Sea regions and to the EU and Middle East markets.<\/p>\n\n\n\n Customs Regulations<\/strong><\/p>\n\n\n\n Turkey joined the EU Customs Unions on 1 January\n1996 and, thereafter, harmonized its customs law and regulations with the EU\nCustoms Code. Since then, the customs regulations in Turkey have been in\nconformity with those of the EU, and all tariff-and non-tariff barriers for\nindustrial and agricultural products were eliminated on both sides. Turkey\nimposes the EU Customs Union duties on imports from third-party countries.<\/p>\n","protected":false},"excerpt":{"rendered":" The world\u2019s first ever global financial crisis that emerged in the US in the last quarter of 2008 had a negative impact on the rest of the world, including Turkey, in the couse of time. The uninterrupted, rapid growth continuing since 2002 came to a standstill in 2009. Turkey\u2019s increasing economic integration with the rest …<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"yoast_head":"\n