Investment in Turkey
Turkey’s long-running progressive development in various sectors during the past decade and Foreign Direct Investment in Turkey has established itself as a hub for growth and development within Europe. Besides being a large-scale global exporter of various commodities and positive trade practices, Turkey has also been a fantastic location for tourism where millions of people flock each year to embrace its culture and oomph.
It should not come as a surprise that Turkey has managed to double its GDP which now exceeds that of Switzerland, it is because of the significant contribution provided by all the investment in Turkey. It should be noted that the latter is already known as financial heaven for global expats and many other entities which means the economy of Turkey is becoming stronger per year. To add to this, the country of Turkey also has several ongoing infrastructure projects which are estimated to boost the real estate market and other sectors with also the firm possibility of digitizing the lives of its residents.
In such favourable conditions, Investment in Turkey will be wise and more so when you learn the added benefits that are offered along with it. These benefits are surely rather diverse as they vary from sector to sector, but they aren’t limited to certain sectors only.
Opportunities for Foreign Investors in Turkey
The growth of Turkey’s economy is backed by capital growth due to trade and investment in Turkey, human capital development, technological development, and many other factors that are witnessed in the following sectors:
Real Estate Investment Incentives in Turkey
The market of real estate in Turkey has risen steadily by 20% in the last decade which is quite lucrative and a marker of further expecting promising gains on capital investment within the upcoming decade. Because the leasing and ownership of real estate are allowed in Turkey, it enables the purchase of commercial properties, housing projects, and land to its residents as well as to foreign investors. This can be incredibly beneficial when Investment in Turkey is pooled constructively for maximizing profits and acquiring assets.
An added benefit that is worth knowing for the investors who plan to make real estate investment in Turkey is that they’ll also be allowed to secure Turkish Citizenship. This can make them capable of enjoying similar economic benefits as a Turkish citizen.
Energy Sector Investment in Turkey
Investment in Turkey within its energy sector should be feasible as Turkey holds 2nd rank in all of Europe in terms of energy production. The potential for farming hydroelectricity, natural gas, Bio & geothermal energy, solar & wind energy is significantly appealing because it is planned to grow four-fold before the end of the upcoming decade. That is also when they have strategized to reduce greenhouse gas emissions by 20% while still holding the title of the world’s fifth-largest energy producer.
In addition to these incremental figures, the three business models proposed by Turkey’s government for energy farming makes it convenient for various types of investment in Turkey to allow their investors to become a part of the growing landscape of renewable energy in Turkey.
Manufacturing Sector Investment in Turkey
The past decade has also witnessed the growth of steel manufacturing in Turkey by making it the world’s eighth-largest steel producer and second-largest in Europe. It has comparatively ramped up its steel production to generate 7.2 million tonnes of steel which is 26% more than it did during their previous year. Beyond this, it looks forward to developing more steel plants within the country with help of Investment in Turkey by foreign investors to become the largest steel producer in Europe before the end of the decade.
This can be possible for Turkey without great hassle because of its existing staggering imports of 4.8 million tonnes of steel to the Middle East countries in 2019. When we also consider the vast quantities of steel imports to Africa which grew by 41% during the same year, the investment in Turkey opportunities seem too good to be missed.
Other Sectors for Investment in Turkey
Turkey is also actively involved in the development of its IT & Research sector after establishing itself as a center for Research & Development to join the ranks of some of the well-developed European countries. Their progress spans further into creating innovative software development and electronics which aids the local industries and global demands. This proves that investment in Turkey is also possible in the field of Electronics, Research & Development as well as in trade related to these sectors.
How to Proceed with Investment in Turkey
The first step would be to get in touch with the Turkish Expats and Turkish Consulates to learn more about the possible ways you could invest in Turkey along with the guidelines and restrictions. The investors who have invested their capital in certain sectors are not only provided freedom of establishment, but they could also practice acquisition of landholding which can grant them other opportunities to request specific authorizations.
The government of Turkey also provides investment aids to the investors and the states to fuel the economy so as to observe near even growth in all the sectors. This is also applicable to the Agri-food, Telecommunications, Automotive, Packaging, and Industrial subcontracting sectors which aren’t monopolistic as the Media and Transport sectors. These sectors also hold a high potential for investment because of the growth of labour and manpower within the country of Turkey.
Learning more about the various potential ventures and opportunities should be done by either visiting the country and holding board meetings or by communicating with the pre-established chairman of various industries. These meetings could also help you spot scenarios where the investment of your capital into their firms could add to both of your portfolios and expectations of profit.
All in all, you must perform your research well and then get in touch with the authorities of Turkey and the government officials besides scouting the opportunities yourself. Doing all of this maximizes your chances to produce healthy Investment in Turkey.