Lucrative investment opportunities in Turkey

A visitor takes photos of the Levent district, which comprises of leading Turkish companies' headquarters and popular shopping malls, in Istanbul, in this April 10, 2015 file photo. (REUTERS)
Updated 29 October 2017

Lucrative investment opportunities in Turkey

Turkey has emerged as a strong regional player with global ambitions to become one of the top 10 economies of the world. Today, it is ranked the 13th largest economy in the world, up from 18th in 2003, having grown robustly thanks to an impressive annual growth rate of nearly 6 percent over the past 14 years.
The remarkable growth has continued into 2017, with 5.1 percent in the first half of the year, and Turkey is expected to maintain this growth momentum into the future. Turkey’s new medium-term program for 2018-2020 envisages growth rates of 5.5 percent through 2020.
This economic activity has been driven mainly by a vibrant domestic market, lucrative export opportunities, diversified sectors with a promising growth and the entrepreneurial spirit of a private sector that has substantially invested in the Turkish economy. Turkey’s economic growth in the last decade has paved the way for the emergence of a sizeable middle class with increasing purchasing power.
Emerging urban centers across the country further support the domestic market. Turkey’s favorable demographics have also been a key driver of economic growth. With half of its population under the age of 30, Turkey stands out as a country with the largest youth population in Europe. This translates into the availability of a skilled labor force with an industrious working culture and cost-competitive edge, which is yet another reason to invest in Turkey.
Exports have been one of the main drivers of Turkey’s economic growth together with numerous opportunities. Turkey is a prime location to host headquarters for many multinational companies thanks to its excellent connectivity, unique setting, and strong bonds with its neighbors. Companies such as Siemens, Nestle, and Deutsche Bank have been operating in Turkey for more than 100 years. An increasing number of companies from across the world, looking for expansion into new markets, are finding a second home in Turkey to manufacture, as well as design and engineer, for a combined market of 1.6 billion people within a four-hour flight radius.
Established in 2006, the Investment Support and Promotion Agency of Turkey (ISPAT) is the official organization for promoting Turkey’s investment opportunities to the global business community and for providing assistance to investors before, during, and after their entry into Turkey.
The agency offers an extensive range of services to investors through a one-stop-shop approach, ensuring that they obtain optimal results from their investments in Turkey.

Recent archaeological discoveries highlight Saudi Arabia as ‘a cradle of human civilizations,’ Rome conference told

Updated 06 December 2019

Recent archaeological discoveries highlight Saudi Arabia as ‘a cradle of human civilizations,’ Rome conference told

RIYADH: Saudi Arabia has become a leader in the field of archaeological research in the past five years, a major exhibition in Rome was told.

Abdullah Al-Zahrani, director-general of archaeological research and studies at the Saudi Commission for Tourism and National Heritage, said that 44 international archaeological missions had been carried out this year in the Kingdom.

He was speaking on the sidelines of the “Roads of Arabia: Masterpieces of Antiquities in Saudi Arabia Across the Ages” exhibition, which opened at the National Museum of Rome on Nov. 26.

The groundbreaking exhibition was inaugurated by Saudi Minister of Culture Badr bin Abdullah bin Farhan and Italian Minister of Cultural Heritage and Activities Dario Franceschini.

Al-Zahrani said that the Kingdom “has become one of the most advanced countries in terms of archaeological disclosures.”

“Recent discoveries by local and international missions have highlighted the Kingdom’s historical status and cultural depth as the cradle of the beginnings of human civilizations,” he said.

Archaeological discoveries continue to “instil the civilized dimension of the Kingdom,” he said.

“The religious, political, economic and cultural stature that Saudi Arabia enjoys is an extension of its long cultural heritage, in addition to its distinctive geographical position as a bridge and hub of cultural interaction between East and West that made it a meeting point for international land and sea trade routes throughout all ages,” he added.