Turkey: a country full of opportunities for Spanish investors and entrepreneurs
One of the most relevant aspects of a country in attracting new economic and business investment is its geographical position when it comes to uniting different parts of the world. In this direction, Turkey, thanks to its location on the map, being the point where they meet Asia and Europe, enjoys a key strategic position that allows it to an attractive country full of opportunities commercial, commercial and socio-economic in the eyes of investors.
In the case of Spain, moreover, and in the face of Turkish-Spanish alliances in economic, commercial and cultural matters, there is a very strong and indissoluble link: the Mediterranean. As detailed Ahmet Burak Daglioglu, President of the Turkish Investment Board, “We are two countries which share the importance they attach to family values, their tradition, their culture, their food and they also share a position of gateways to Europe on both sides of the Mediterranean. ”
Spain and Turkey: two countries with economic ecosystems made up of SMEs
Another aspect that makes Turkey an attractive country for Spanish investors is the turkish economic ecosystem, because it sounds a lot like Spanish. In other words, most of the businesses that create wealth in both countries are Small and medium-sized enterprises (SMEs). “Most Turkish businesses are family owned. For this reason, between the two countries can create synergies important when it comes to developing new and innovative business models that win everyone over. Another common point, moreover, is commitment to international growth through calls for tenders», He emphasizes.
Absoutely, Turkey is a great place for international business thanks to its production capacity; its population of 84 million inhabitants, its young, dynamic and qualified workforce; its logistics infrastructure and comparatively superior capabilities to create a liberal and favorable business environment that is constantly improving. Spanish companies are building a regional headquarters in Turkey to reach the markets of the Middle East, West Asia and Commonwealth of Independent States (CIS).
TUrquía is also part of the Customs Union and has extensive free trade agreements with 28 countries. the UPS manufacturing in Turkey they can reach up to a billion consumers thanks to free trade opportunities. With an average growth rate of 5.1 between the years 2003-2020, Turkey is 11th.a world’s largest economy in terms of purchasing power parity. It is a strong, resilient, agile and flexible economy.
With these numbers on the table, There is no doubt that the investment relationship between Turkey and Spain is very productive and attractive in the face of foreign investment.
Very strong presence of Spanish capital in Turkey
“Since 2003, Spanish companies have invested around 10 billion euros in Turkey. Currently there are around 730 companies established with Spanish capital in our country. Our total volume of trade with Spain is around 12,000 million euros, it is Turkey’s seventh export partner, and it is in the top ten as an importing partner, ”they comment from the Turkish Investment Bureau.
Regarding Spanish visitors to the Turkish country, whether for leisure or business, the presence is also very highbecause, as we have mentioned, the Mediterranean is a very powerful link. Around 700,000 Spaniards have arrived in the past five years, although the Turkish Investment Board expects this figure to continue to rise after the Covid-19 pandemic. In reality, Turkish Airlines offers direct flights from Istanbul to five Spanish destinations.
Ahmet Burak Daglioglu also underlines that bilateral relations are “good” from a social and political point of view and, moreover, underlines that there is room for improvement in trade matters. In that case, remember the words of Pedro Sánchez when he said “the importance of strengthening the relationship by being a strategic partner of the EU”, As well as the aid with medical supplies that the Turkish government provided to Spain during the first months of the pandemic.
“Our political relationship is strong. For decades we have observed that Spanish and Turkish citizens get along well in all areas and are happy to work together. We are happy to report that the number of joint projects in other countries is increasing every day, ”he said.
The most attractive sectors in Turkey
As it concerns sectors, those related to electric mobility, chemicals and petrochemicals, mechanical and advanced manufacturing technologies, defense and aerospace, and food and agriculture, as well as renewable energies and machinery. But, moreover, as the Turkish investment office, Spanish companies and investors have interests above all in the infrastructure sector such as ports, railways and airports, among others.
Of course, Ahmet Burak Daglioglu declares that investments related to “logistics, which will improve maritime transport infrastructure and support intermodality, as well as investments in transport infrastructure. Information and Communication Technologies (ICT) they are precious and important for Turkey ”.
However, and this is what he is emphasizing, throughout this pandemic, the high importance of investment in medicine and biomedicine, as good as medical equipment and hospital services. “Now the sciences of life They are a priority sector in our offices and, in addition, we ensure that the investments are appropriate and contribute to sustainable development in line with the UN ODS to increase the energy efficiency of our systems and our cities ”.
Personalized investor service with clear direction
He also believes, and thus exposes it, that the companies of the two countries must continue to discover themselves in order to advance in economic matters and on the market. So, “we have had an office in Madrid since 2009 to serve investors in Spain and we work a lot with the brand Invest in Turkey. We are also creating a larger community of investors through webinars and digital communication channels, especially in recent months when digitization has become more important, ”he says.
As advice to future investors, as well as to improve the commercial presence you already have, Ahmet Burak Daglioglu explains that the doors of the investment office are always open. “Our ultimate goal is to attract investments that will take our country to the next level of the global supply chain and this is possible if we attract new high value-added and technology-intensive investments.”
Turkey has strengthened its position in the World Bank Ease of Doing Business Index through continuous reforms over the past two years. He arrived at position 84.a out of 155 countries in 2006, and now it’s 33.a among 190 countries, in 2020. According to this index, starting a business in Turkey can take up to 7 days. Falling business start-up costs also contributed to this jump in the rankings. Although the index indicates that this process takes 7 days, in practice it is often completed much faster.
Individual Investor Studies
In this directionIn addition, they believe that it is essential to guide investors in a generalized way in order to streamline bureaucratic procedures. “We help investors before, during and after their investment and we offer them a service like “Single window”, we coordinate with the shareholders involved in the investment process, we offer project launch services and provide logistical support through planned investor visits to Turkey, ”he said. But of all the services they stand out “Individual studies for investors to locate the optimal location for the associated investment project”.
In short, “there are many investment opportunities such as, for example, the technological knowledge and financial strength of Spanish companies and the entrepreneurial spirit of Turkish enterprises is an economic tandem that can increase the wealth of both regions. Spanish companies can collaborate with Turkish companies to launch large projects”.
More information on how to invest in Turkey at www.invest.gov.tr