Aksam - Turkey’s huge infrastructure projects, large domestic market and gateway status to nearby countries have Sumitomo Construction Machinery pick the country as its sales and distribution base in the region.
The maker of construction equipment from Japan intends to support Turkey’s 2023 vision, a set of targets to reach by the country’s centennial, according to Ichiro Shimada, Vice President of Sumitomo Construction Machinery. Speaking of the company’s Turkey plans, Shimada praised the rapid growth observed in the country’s construction and mining sectors during the last 10 years and added that the growth trend was expected to continue in the foreseeable future.
“We aim to make Turkey a regional base for Sumitomo Construction Machinery, running our operations in Iraq, Iran, Azerbaijan, Georgia, Kirgizstan, Turkmenistan and Uzbekistan through our subsidiary in Istanbul, TSM Global Turkey Sumitomo Construction Machinery”, he noted.
Turkey saw a stellar increase in Japanese investments in recent years with the number of Japanese companies operating in Turkey reaching nearly 200. In close cooperation with the Investment Support and Promotion Agency of Turkey (ISPAT), three of Japan’s largest lenders, Bank of Tokyo-Mitsubishi UFJ (BTMU), Sumitomo Mitsui Banking Corp (SMBC) and Mizuho Corporate Bank, have made their entries into the country while Sumitomo Rubber Industries, also with ISPAT assistance, is building a tire factory in Central Anatolia for USD 500 million. Japanese car makers Toyota and Honda have been in production in Turkey for decades.