Source : TurkStat
As being 13th largest economy in the world, Turkey offers great opportunities for foreign investors in various sectors. Although Turkey has experienced external and internal crisis in 2016 dramatically, reliance has been reconstructed in the Turkish economy during the second half of the year. Indeed, Turkey achieved USD 12.3 billion in Foreign Direct Investment at the end of 2016.
According to the recent report published by the Republic of Turkey Prime Ministry Investment Support and Promotion Agency, Turkey's robust economy is very significant in terms of attracting investors globally. Statistics demonstrated in aforementioned report that the average annual GDP growth of Turkey has been reached 5.6% between 2003-2016. Furthermore, the GDP growth has continued to rise slightly during the first and second quarter of 2017.
Likewise, implementation of numerous reforms in different areas has allowed Turkey to create liberal investment environment and further reforms have been expected in the following years.
The liberal investment policy of Turkey by means of Bilateral Investment Protection Treaties with seventy-five countries and Treaties to Prevent Double Taxation with eighty countries provide extensive protection for Foreign Direct Investments. Moreover, investors are offered several profitable incentives such as tax deductions and exemptions particularly for manufacturing, R&D and innovation as well as for the exportation of services in engineering, architecture, design, software, medical reporting, accounting, education, healthcare, datacentre and call centre. Furthermore, Turkey provides exclusive zones for industry and technology development, where investors can benefit from numerous tax deductions and exemptions for their businesses in such fields.
Additionally, the strategic location of Turkey and the Customs Union with the European Union facilitate access to key markets in the world, therefore investors can access to broader consumer profile directly.
Also the young population and the skilled workforce with cost advantage enhance competition in the market, which is resulted in increase of quality and sustainability of the Turkish economy.
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