Turkey is a very appealing location for investors due to its expanding economy, high youth and workforce rates, rising value of foreign currencies, great geographical location, and tax breaks for foreigners. To sum it up Turkiye is a country full of opportunities.
- ROBUST ECONOMY
Turkey is the 11th largest economy in the World and the 5th largest economy in Europe, with an average annual GDP growth rate of 5.4% from 2002 to 2021. It also registered the largest economic growth in the G-20 in 2021. The Turkish economy has more than tripled over the past 19 years and is promising to continue the growing trend. Turkiye has overcome high inflation and a current account deficit as a result of its remarkable growth record and structural changes carried out over the previous 15 years.
- DOMESTIC AND ACCESSIBLE MARKETS
Turkey has achieved impressive economic growth, leading to a sizeable middle class with increasing purchasing power. A customs union with the EU allows Turkish companies to access the EU market directly. free access to 996 million consumers, of which 85 million are from Turkey.
- STRATEGIC LOCATION
Turkey is a strategic country for relocating your investments. Advantageous hub for multinationals to manufacture and export. Enhanced production capabilities attract multinationals to invest for export.
Enjoy high-level of connectivity through land, rail, water, and air. Turkish Airlines connects you to 340 destinations in 129 countries, with coverage of 16 time zones on the same day. Being able to monitor markets in Tokyo and New York simultaneously.
- FAVOURABLE DEMOGRAPHICS
Half of population is under the age of 32 which makes Turkey being a country with largest youth population in Europe. Turkey has dynamic labor force, fiscal discipline, and inherited experience in many sectors.
- SKILLED AND COMPETITIVE LABOR FORCE
Educational growth enabled to a skilled labor pool. In 2021 University education level present 27,9 %.
- CONTINUOUS REFORM PROCESS
Turkey is a country of fast-implementing reform in many areas.
Upgrading Investment Incentives; Amendments to improve doing business; Ease of Doing Business Reform Package I and II; Establishment of European Green Deal Working Group and Green Deal Action Plan.
Investments in Turkey are protected under the constitution. Needing only 7 days to open the company which went down from 38 days in 2002. These are only some of advantages from the reform process.
- BUSINESS FRIENDLINESS
Turkey offers protected business atmosphere and ease of doing business opportunities to the entrepreneurs.
Foreign direct investment law ensures the protection of international investors is built on the idea of equal treatment, allowing foreign investors to enjoy the same rights and obligations as domestic investors. Turkey has also signed Bilateral Investment Protection Treaties with 86 countries. In the group of OECD members, Turkey has one of the lowest corporation tax rates. Turkish corporation tax law features notably objective, harmonized, and explicit requirements that are in accordance with global standards. 87 nations have signed double taxation prevention agreements.
- LUCRATIVE INCENTIVES
Turkey offers incentives in many ways. Tax deductions for service exporters, tax deductions and exemptions for manufacturing companies, technology development zones, and organized industrial zones.
- BENIGN R&D SYSTEM
Companies with R&D activities in Turkey have access to a variety of incentives and supports that are offered within the parameters of R&D laws and cash assistance programs. Investors can thus select the best suitable support or incentive strategy to lower their costs associated with R&D and innovation operations.
In Turkey, around 500 international companies operate in Technoparks and R&D Centers. These centers are supported by a favorable ecosystem to invest in and conduct business operations.
- RESILIENT HEALTHCARE SYSTEM
Türkiye is leading the list of intensive care beds per 100K among European countries. In Turkey, there are 1,534 hospitals, 4,000 medical treatment facilities and over 15,000 primary healthcare centers. Modern ambulance fleets with 5,946 fully-equipped vehicles and 21 aircraft.
13 city hospitals entered into service in 12 provinces and 14 more are under construction. The city hospitals are the largest healthcare complexes with their modern infrastructure, high-tech devices and qualified healthcare professionals.
Over the previous 18 years, the funding for healthcare services has expanded from 19 billion TRY to 117 billion TRY.
- SECTORAL OPPORTUNITIES
Turkey offers abundant opportunities in a variety of sectors such as automotive (The 14th largest automotive manufacturer in the World, and 4th in Europe), machinery and electrical equipments (Europe’s largest producer of TVs and other white goods), aerospace and defense, energy, agrofood, infrastructure and finance.
As the sixth most popular tourist destination in the world in 2019 with 51.2 million visitors, Turkey continues to provide a wide range of investment opportunities in both the well-established and expanding tourism industry subsectors.
Many thanks to Investment Office. Please find the report’s pdf version in this link. https://www.invest.gov.tr/en/library/publications/lists/investpublications/why-invest-in-turkiye.pdf
