Turkey’s young, dynamic, and skilled workforce of almost 80 million people makes it a perfect country for investment. Along with the Government’s incentives, tax exemptions, and free land allocations, Turkey has become even more appealing to investors. Let’s take a look at some of the sectors in which investors can explore opportunities.
IT and Technology
Turkey has been making great strides in researching and developing technology, with many universities having dedicated technology departments that make it easier for investors to enter the market.
The country is an attractive location for investors interested in software development, biotechnology, nanotechnology, and electronics.
Despite the presence of national and foreign companies in this sector, there are still market gaps and opportunities that investors can explore.
Construction and Real Estate
The real estate and construction sectors are among the most important sectors that keep the Turkish economy thriving.
With the increasing population and urban transformation projects throughout the country, these sectors remain attractive options for investors in the long run.
Foreign investors can purchase real estate in Turkey without a residence permit, and those who invest at least $400,000 are entitled to Turkish citizenship.
As of September 2020, foreign investors accounted for 12% of house sales, and this number is expected to increase.
Textile and Ready-to-Wear
The textile sector has a deep-rooted history in Turkey, and with advancements in technology, the demand for textiles has increased significantly.
The sector is an area that has attracted the attention of many investors and offers employment, export, and investment incentives.
Investments made in priority regions receive more support, with the amount of investment made in the ready-made clothing sectors exceeding 2.7 billion Turkish liras in the 6th region in 2020.
Energy and Natural Resources
Turkey has been one of the fastest-growing energy markets in recent years, with many targets for the sector to achieve by 2023, such as establishing an energy exchange and increasing the share of renewable energy to 30%.
Turkey is also suitable for investment in the energy sector, with investors in hydroelectric power, wind energy, solar energy, natural gas, bio-energy, and geothermal energy eligible for VAT exception, customs exemption, tax discounts, employer’s share of social security contributions, and interest support.
Environment and Recycling
Turkey takes environmental issues seriously, with efforts to eliminate the destruction caused by industrialization, prevent environmental pollution, and combat global warming.
The country has announced plans to invest between 7 to 9 billion euros in the environment and recycling sector.
The Government supports domestic and foreign investors in recycling by offering value-added tax reduction, customs tax, investment allocation, interest support, tax relief, and many other benefits.
Investing in the environment and recycling sector not only benefits the country but also promotes a cleaner and healthier world for everyone.
Related Posts
Understanding Franchises: Benefits, Risks, and Regulations
Have you ever considered starting your own business but don't know where…
