Opportunities laid down for investors

THE FIRST MEETING OF THE “Global Value Chain Talks” webinar series, held by the Presidency of the Republic of Turkey Investment Office and the American Chamber of Commerce (AmCham) with the supports of the U.S. Chamber of Commerce, was held under the theme of “Investment Perspective”.

Everyone witnessed the importance of value chains during the pandemic, said Cetin Ali Donmez, Vice Minister of Industry and Technology. Turkey has demonstrated the resistance and strength of its economy in terms of consumer goods with nearly zero issues, he said, adding that Turkey has become a much more important region for global companies due to its reliable industrial culture.

“Turkey stands out as an attractive location for companies that aim to diversify and secure their value chain networks,” Donmez said. “With its experienced industrial companies and their qualified, hardworking labor force, as well as its regional advantage because of its proximity to the European Union and MENA, Turkey is the top candidate for direct foreign investment in the center of all global trade networks.”

ATTRACTIVE INVESTMENT AREAS

Donmez also pointed out the areas that Turkey offers important opportunities. “We believe renewable energy production technologies, petrochemicals, chemical products, medical products, biotechnology and nanotechnology investments, defense systems, aircraft and space technologies and information and telecommunications technologies are attractive investment areas for investors,” he said.

The Ministry of Industry and Technology is working closely with SMEs and their umbrella organizations to prepare them for green and digital economic transformations, according to Donmez.

The ministry is providing financial incentives to the organized industrial zones (OIZs) to grow, Donmez said. The ministry also issues long-term and low-cost loans to OIZs for their infrastructure expenditures and allocates land for investors, either inside or outside the OIZs, he added.

“WE WILL BUILD A STRONGER

AND MORE DYNAMIC PRODUCTION CAPACITY”

Everyone is having a hard time due to the pandemic and the pandemic keeps bringing on new issues, said Ahmet Ihsan Erdem, Vice President of the Republic of Turkey Investment Office.

COVID -19 has highlighted the changes that were already under way in global value chains long before the pandemic began to spread across the world, said Erdem. With the pandemic, digitalization in the value chains, the improvement in artificial intelligence, layered production, rise in the tendency toward protective policies and the pace of change in the global value chains will accelerate, he added.

“We will focus on improving clustering in domestic industrialization toward regionalization and diversification strategies of companies in the near future in terms of value chains,” Erdem said. “Thus, we will build a stronger and more dynamic production capacity by strengthening our networks.”

“TURKEY IS AN ATTRACTIVE COUNTRY FOR U.S. COMPANIES IN SUPPLY”

AmCham Turkiye has received a huge interest in the webinar series as part of their goal to carry Turkey to the global markets, said Canan ozsoy, Deputy Chairman of AmCham Turkiye and the Chairman and CEO of General Electric Turkiye.

“At the event, we provided business people with the opportunity to interact with experts and information about our country’s investment and incentive mechanisms within the framework of ongoing developments in international trade and investment networks,” she added.

Multinational companies are seeking alternative locations to re-position their cross-border operations and secure their suppliers in a way that they are closer to the source and target markets, according to Ozsoy. “With its production capabilities, qualified and competitive labor force, closeness to the European and MENA markets and the international free trade networks, Turkey steps forward as an attractive country for U.S. companies who seek to diversify and secure their value chains.”