With robust market growth fueled by downstream industries, Turkey is an attractive investment location for chemical companies. The sustainability of growth in customer industries in Turkey is unquestionably a source of strength. The following factors also make Turkey an attractive investment destination:

• Advanced transportation infrastructure provides flexibility, convenience and additional cost savings for manufacturers.
• Turkey’s plastics sector is the 2nd largest producer in Europe and 7th largest in the world; Turkey aims to become the top producer in Europe by 2016.
• Turkey is the 2nd largest net importer of petrochemicals in the world.
• Turkey is the 17th largest automotive producer in the world.
• In the construction sector, 42 of the top 250 international contractors are Turkish.
• Turkey is the 4th largest paint producer in Europe.
• As a strong manufacturing and conversion hub, Turkey is one of the largest European consumers for textile and construction chemicals.
• Turkey has the 7th largest agricultural production in the world, while its demand for fertilizer is the 10th highest in the world.
• Turkey is located close to large and growing trade markets.

Over the coming years, Turkey’s chemical industry is poised for extraordinary growth with exports projected to reach USD 50 billion by 2023.

Turkey has six strategic goals as part of the government’s Vision 2023. These include;

• manufacturing high value-added products,
• transforming facilities to enable high value-added production,
• structuring R&D policies,
• educating a high-skilled work force,
• developing and ensuring an environment of cooperation, and
• increasing demand for locally manufactured products.

 Date: 13 March 2017

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According to a data revealed by the Economy Ministry, Turkey directly earned 457 million dollars as a foreign investment in February.

With 162 million dollars, manufacturing sector has received the highest amount of foreign investment.

Source: Economy Ministry

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.