10 Reasons to Invest in Turkey
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1 SUCCESSFUL ECONOMY |
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2 POPULATION |
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3 QUALIFIED AND COST-EFFECTIVE LABOR FORCE |
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4 LIBERAL AND REFORMIST INVESTMENT CLIMATE |
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5 INFRASTRUCTURE |
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6 CENTRALLY LOCATED |
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7 ENERGY CORRIDOR AND TERMINAL OF EUROPE |
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8 LOW TAXES & INCENTIVES |
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9 CUSTOMS UNION WITH THE EU SINCE 1996 |
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10 LARGE DOMESTIC MARKET |
1. SUCCESSFUL ECONOMY
- Booming economy (USD 305 billion to USD 742 billion GDP from 2003 to 2008)
- Sustainable economic growth (7% annual average real GDP increase for the last 6 years)
- 15th largest economy in the world and the 6th largest economy compared to the 27 EU countries in 2007
- Institutionalized economy fueled by USD 18.2 billion of FDI in 2008 and ranked the 15th most attractive FDI destination for 2008-2010 (UNCTAD)
- More than USD 70 billion of FDI inflows in the last 4 years
2. POPULATION
- A population of 72 million people
- Largest youth population compared with the 27 EU countries
- Median age 28.5
- 61% of the population under the age of 35
- Young, dynamic, well-educated and multi-cultural population
3. QUALIFIED AND COST-EFFECTIVE LABOR FORCE
- Over 24.7 million young, well-educated and motivated professionals
- Labor productivity with an annual average growth of 6.1% between 2002 and 2008
- 4th largest labor force compared to the 27 EU countries
- Consumer base and motivated work force
- Approximately 450,000 graduates from 143 universities in 2008
- 730,000 high school graduates in 2008, including one third from vocational, technical and professional high schools
4. LIBERAL AND REFORMIST INVESTMENT CLIMATE
- A dynamic and mature private sector with USD 132 billion worth of exports and an increase of 179% between 2003 and 2008
- Highly competitive investment conditions
- Strong industrial and service culture
- Equal treatment to all investors
- More than 21,000 companies with international capital
- 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, hence creating an efficient and cost effective outlet to major markets
- Easy access to 1.5 billion customers in Europe, the Middle East and Asia
- Access to multiple markets worth USD 25 trillion of GDP
7. ENERGY CORRIDOR AND TERMINAL OF EUROPE
- An important energy terminal and corridor in Europe connecting the East and West
- As an energy transit country, Turkey currently has the capacity to transport 121 million tons of oil to the world markets per annum. Once the ongoing projects are completed, the annual transit capacity will increase to 221 million tons of oil and 43 billion m³ of natural gas.
8. LOW TAXES & INCENTIVES
- Corporate Income Tax reduced from 30% to 20%.
- Individual Income Tax varies from 15% to 35%
- Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones. These could include total or partial exemption from Corporate Income Tax, up to 80% grant on employer’s social security share, as well as land allocation.
- New R&D and Innovation Support Law
- Region and sector based incentive system
9. CUSTOMS UNION WITH THE EU SINCE 1996
- Customs Union with the EU since 1996, and a total of 12 free trade agreements (FTA)
- 11 more FTAs underway
- Accession negotiations with the EU since 2005
10. LARGE DOMESTIC MARKET
- 30 million internet users in 2008, up from 4 million in 2002
- 66 million GSM users in 2008, up from 23 million in 2002
- 44 million credit card users in 2008, up from 16 million in 2002
- 79 million airline passengers in 2008, up from 33 million in 2002
- 26.5 million international tourist arrivals in 2008, up from 13 million in 2002
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