Turkey Economic Profile
Turkey has the world's 15th largest GDP by PPP and 17th largest nominal GDP.The country is among the founding members of the OECD and the G-20 major economies.
Liberal and Reformist Investment Climate
• The second biggest reformer among OECD countries in terms of its restrictions on FDI since 1997 (OECD FDI Regulatory Restrictiveness Index 1997-2012)
• Business-friendly environment with average of 6 days to set up a company, while the average in OECD members is more than 11 days (World Bank Doing Business Report 2014)
• The Turkish government provides various tax and non-tax incentives to foreign investors, in line with those provided to domestic companies. These include customs and VAT exemptions on various imported or locally delivered goods, including machinery and equipment, as well as priority regions offering incentives such as free land and energy support. Investors are also able to benefit from R&D support and market research with the aim of encouraging exports and increasing the competitiveness of firms in international markets. The Turkish government has also introduced flexible exchange rate policies and liberal import regulations in order to promote and sustain foreign investment.
• Highly competitive investment conditions
• Strong industrial and service culture
• Equal treatment for all investors
• Around 36,950 companies with international capital in 2013 (Ministry of Economy)
• International arbitration
• Guarantee of transfers
• New and highly developed technological infrastructure in transportation, telecommunications and energy
• Well-developed and low-cost sea transport facilities
• Railway transport advantage to Central and Eastern Europe
• Well-established transportation routes and direct delivery mechanism to most of the EU countries
• A natural bridge between both East-West and North-South axes, thus creating an efficient and cost effective outlet to major markets
• Easy access to 1.5 billion customers in Europe, Eurasia, the Middle East and North Africa
• Access to multiple markets worth USD 25 trillion of GDP
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