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Is Turkey a safe country for business? Is a general curiosity for people into investing in a foreign country. For people all over the world, Turkey is a great touristic place with no such safety issues. Foreign investors from all over the world have a very common interest, how safe Turkey is for business?
Is Turkey a Safe Country for Business?
Actually, this is not really a very random question for foreign investors as it has been seen in many countries that foreign investors invest a lot of money but later the corresponding government couldn’t support investors or in many other cases, there is a sudden depression in demand and the business, instead of gain profit, runs in a loss. So, what does Turkey has for the foreign investors to run their business safely?
The Basic Requirements For Any Business in Turkey
Turkey has clear government policies on foreign investment, and all of them are beneficial to foreign investors. All of them are changed regularly to protect the interests of foreign investors; not only that, with the Foreign Direct Investment (FDI) laws, the government’s goals to protect company setups are also quite apparent.
Social and Political Stability
Turkey’s social and political structure is really very strong so that you can blindly rely on the situation so that it will never be so bad that it can harm your business. Turkey is the most secular, open-minded, and progressive country among Muslim population dominant countries.
For any business, the market is the most important factor. If there is a market where you can sell your product(s), only then you can establish a business. Turkey is a developed and newly industrialized country that has a great market due to its fast economic growth and continuously increasing population.
For any business, the demand for the product(s) is vital because only the demand for some product runs the business. All the sectors that are opened for foreign investment in Turkey have high demand and lack of supply, which needs to be fulfilled by producing more products. As a developed and highly-populated nation, the demand in various sectors is really high and there is no possibility of a decrease in demand.
As a developed nation, Turkey already has a very good infrastructure that helps all businesses to grow further. Turkey’s infrastructure is remarkable for a developing market, but the country will confront problems in handling its rapidly growing population in the future years. Despite this, Turkey’s infrastructure is comparable to that of EU members.
Turkey has a very smooth and speedy transport system that always helps in business. Turkey has a large public transportation system. Suburban trains, city buses, metro, tram, minivan, and taxis are all available for usage in all major and touristy sites.
The energy supply is continuous and although this sector is growing, renewable resources are used in Turkey in a good manner so that there is no problem with energy resources.
Related Article: Set Up a Company in the Energy Sector in Turkey.
Turkey has one of the most efficient and young workforces in Europe. The skilled workforce is really very good here. With a population of 83 million people, Turkey has a labor force of young 30 million individuals that are well-educated, competent, and many of them have significant job experience, all of which is beneficial to international entrepreneurs looking to start a business in Turkey.
Safety of a Business in Turkey
Due to all the above available facilities, most foreign investors around the globe found Turkey safe and in the last 15 years, Turkey has become the hub of foreign investors. In June 2019, the Foreign direct investment (FDI) in Turkey was approximately $12.4 billion. This statistic itself says how safe Turkey is for foreign investors to do business safely.