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10 Major Facts to Invest in Istanbul and Turkey

10 Major Facts to Invest in Istanbul and Turkey

10 Major Facts to Invest in Istanbul and Turkey

  1. INVESTMENT CLIMATE
  • The second biggest reformer among OECD countries in terms of its restrictions on FDI since 1997 (OECD FDI Regulatory Restrictiveness Index 1997-2012)
  • Business-friendly environment with average of 6 days to set up a company, while the average in OECD members is more than 11 days (World Bank Doing Business Report 2014)
  • Highly competitive investment conditions
  • Strong industrial and service culture
  • Equal treatment for all investors
  • Around 41,397 companies with international capital in 2014 (Ministry of Economy)
  • International arbitration
  • Guarantee of transfers
  1. LOW TAXES & INCENTIVES
  • Corporate Income Tax reduced from 33 % to 20 %
  • 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
  1. SUCCESSFUL ECONOMY
  • Economy is booming; and reached USD 850 B (billion) in 2014
  • 17th largest economy in the world and 6th largest economy compared with the EU in 2014
  • Economic growth is stable; with an average annual GDP growth rate of 5 % between 2002 and 2015
  • Promising economy with a bright future as it is expected to become one of the fastest growing economies among the OECD members during 2014-2016 with an average annual real GDP growth rate of 3.6 % (OECD, February 2015)
  • Institutionalized economy fueled by USD 144 B of FDI in the last decade (CBRT)
  • Private sector is mature, developed and dynamic; with USD 160 Billion worth of exports
  1. POPULATION
  • The total population is 78 million (2014, TurkStat)
  • No#1 youth population within the EU (Eurostat)
  • The avarage of population age is 30 (2014, TurkStat)
  • Dynamic, young, well-educated and multi-cultural
  1. HUGE DOMESTIC MARKET

Based on 2014 datas from ICTA, TurkStat, ICCT there are;

  • 40 million broadband internet subscribers
  • 72 million mobile phone subscribers
  • 57 million credit card users
  • 170 million airline passengers
  • 36 million international tourist arrivals
  1. LABOR FORCE
  • Over 30 million young, well-educated and motivated professionals (2014, TurkStat)
  • Increasing labor productivity
  • Approximately 600,000 students graduate annually from over 183 universities
  • More than 700,000 high school graduates with around half from vocational and technical high schools
  1. 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
  1. LOCATION ADVANTAGE
  • A natural and historical bridge between East-West and North-South axes, therefore creating an efficient and cost effective outlet to major markets
  • Easy access to 1.5 Billion customers in Europe, Eurasia, the Middle East and North Africa
  • Access to multiple markets worth USD 25 T (trillion) of GDP
  1. 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 % of the world’s proven primary energy reserves, while the largest energy consumer, which is 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
  1. CUSTOMS UNION WITH THE EU
  • Customs Union with the EU since 1996 and Free Trade Agreements (FTA) with 20 countries
  • More FTAs underway
  • Accession negotiations with the EU

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