Top 5 Sectors in Turkey for Investors
Turkey is an ideal country to invest in with its 800 million population and young and qualified workforce. Additionally, the incentives, tax breaks, and free land allocations make Turkey a very appealing place in investors’ eyes.
Technology and Information Sector
Technology-based researches and developments began to gain great importance in Turkey recently. Today, there are many universities and technology centers in Turkey to provide conveniences to investors of these fields. Turkey is Especially convenient for those who invest in software development, biotechnology, nanotechnology. Although there are many domestic and foreign companies operating in those fields, there is still a growing demand and many opportunities.
Construction and Real Estate
Construction and real estate sectors are among the most important sectors that sustain the Turkish economy. Due to its growing population and urban renewal projects across the country, the real estate and construction sector in Turkey is very much alive. For this reason, we can say that the construction and real estate sectors have been attractive options for investors for a long time. 6% of housing sales in Turkey were made to foreign investors as of September 2017. This figure is later increased. Also, there is currently no requirement of residence permit in order to purchase real estate in Turkey. Foreign Investors who purchase at least $ 250.000 of real estate are also granted Turkish citizenship.
Textile and Ready-made Clothing Sector
It should be accepted that China has a big place in the world textile market. However, Turkey’s textile and apparel industry has many advantages such as abundant and quality raw material resources, flexibility, ability to respond to specific demands, and an important geographic location. In addition, with the new incentive program, came into force in 2018, some new incentives were offered to those who will invest in the textile field, along with the existing incentives. Accordingly, many extra incentives are given to investments in textile areas, especially in the Eastern provinces of the country.
Energy and Natural Resources
The energy sector is very important in order to carry out almost all economic activities without any problems. To close the gap, Turkey is expected to invest $ 130 billion, and strong incentives are given to the investors.
Environment and Energy Sector
Taking necessary steps to eliminate the damages caused by industrialization and to prevent global warming has made the environment and recycling sector an important sector. Being a country that is the EU membership process and accepted the Kyoto Protocol, Turkey is expected to invest $ 7-9 billion in the sector. In this respect, Turkey supports domestic and foreign investors in terms of value-added tax, customs duties, investment allocation, tax breaks, and interest.