ISSUE 76 20

NEWSLETTER JUNE’

PRESIDENT ERDOĞAN INAUGURATES NEW INFRASTRUCTURE INVESTMENTS Page 2-3

ECONOMIC ACTORS TAKE ALL FIRST DOMESTIC NECESSARY MEASURES TO MITIGATE IMPACTS FREIGHT TRAIN OF COVID-19 PASSES RECORDS 4.5 PERCENT GROWTH IN THE FIRST QUARTER

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YARIMCA PORT WELCOMES LARGEST CONTAINER SHIP IN TURKEY’S HISTORY

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FILYOS PORT PROJECT TURKEY GETS READY HAS COME FOR NORMALIZATION TO AN END!

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1915 ÇANAKKALE BRIDGE

Message 3,563 m 2 x 3 Longest central Bridge length Number of lanes span of any from the suspension bridge 352 km 318 m in the world. Investment Total project length Tower height

Office 2,023 m World’s widest mid-span Mid-span length suspension bridge. Turkey is successfully managing the Covid-19 pandemic. Dynamic domestic demand, steps The 1915 Çanakkale Bridge, planned to With a capacity of delivering healthcare taken in a timely manner come into service on March 18, 2022, to 35,000 outpatients daily, the hospital by the government, will boast the longest central span of will be able to provide uninterrupted declining interest rates, PRESIDENT any suspension bridge in the world service to both Turkish and foreign and other idiosyncratic ERDOĞAN when it opens. patients during the Covid-19 outbreak. factors are all likely to mitigate the possible On May 19, for the On May 27, Erdoğan attended INAUGURATES NEW Commemoration of Atatürk, Youth the opening ceremony of the future negative impacts and Sports Day, President Erdoğan Democracy and Freedoms Island in of this pandemic on the INFRASTRUCTURE attended via videoconference the . The island, formerly known as Turkish economy. INVESTMENTS commissioning ceremony of the first Yassıada, was a symbol of the execution turbine of the power plant at the Ilısu orders after the military coup in 1960. Considering all these, Dam in Mardin province. Speaking at the It has been renovated under the name Turkey should emerge as The May 2020 schedule of President ceremony, President Erdogan stated, of “Democracy and Freedoms Island”, one of the least damaged Recep Tayyip Erdoğan included “Turkey’s fourth-largest dam, Ilısu Dam, where congresses and exhibitions will countries globally and we inaugurations of new infrastructure will contribute USD 412 million to the now take place. anticipate a V-shape quick investments in the transport, Turkish economy annually, contribute recovery for Turkey in the healthcare, energy, and logistics to the development of the southeast, On May 29, President Erdoğan wake of the pandemic. sectors. and is expected to generate 4.1 billion inaugurated the Sancaktepe We expect positive GDP kilowatt-hours of electricity per year.” Prof.Dr.Feriha Öz Emergency Hospital growth for 2020, and On May 10, President Erdoğan delivered in Istanbul. The hospital has been starting within two months remarks via videoconference at the One month after a partial opening of built in 45 days in order to respond to we expect a rebound in construction completion ceremony of the its services, President Recep Tayyip emergencies like Covid-19 pandemic most sectors including of the Gayrettepe-Kağıthane-Istanbul Erdoğan presided over the Başakşehir and has 1,008 patient beds, 16 aviation, tourism, and Airport Metro Project. “We are reinforcing Çam and Sakura City Hospital’s full operating rooms and 432 intensive care retail. Istanbul’s feature as a world city with this metro opening during a ceremony on May 21 units. line that connects Istanbul Airport to the city that was also attended by Japanese As always, the Investment center,” said Erdoğan. Prime Minister Shinzo Abe via video On the same day, Erdoğan greeted the Office is at the service of conference. Emphasizing that the project boats that pass through the Bosphorus international business On May 16, a ceremony to mark made a great contribution to the friendly on the 567th anniversary of the community during these the completion of the towers of the ties between the two countries, said conquest of Istanbul, including Turkey’s President Erdoğan said, “Başakşehir first domestically-made drilling vessel challenging times. 1915Çanakkale Bridge was held. President Recep Tayyip Erdoğan attended via videoconference, Çam and Sakura Hospital is one of the , which was bid farewell from telling attendees that construction projects such proud monuments of Istanbul not only Istanbul to the Black Sea. President, Investment Office as the 1915Çanakkale Bridge will make Turkey in terms of aesthetics, but also with its Burak DAĞLIOĞLU the heart of regional transportation. “We have technological infrastructure, associated On May 31, President Erdoğan many highway, railway, aviation, and maritime buildings, location, facilities, and other also inaugurated the Yeşilköy Prof. projects still underway. When these projects features.” Dr. Murat Dilmener and the restored are completed, Turkey, beyond meeting its own Hadımköy Dr.İsmail Niyazi Kurtulmuş needs, will become a regional transportation hub,” emergency hospitals in Istanbul. said President Erdoğan.

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The Banking Regulation and TURKEY GETS ECONOMIC Supervision Agency announced that effective from May 22, a one-day READY FOR ACTORS settlement delay will be implied on NORMALIZATION TAKE ALL purchases of 100 grams or more of gold by individuals or corporations in After successfully implementing NECESSARY order to allow financial markets and measures to fight against the credit mechanisms to function more Covid-19 outbreak, Turkey MEASURES effectively. is getting ready to return to normalcy. President Recep Tayyip TO MITIGATE Marking a recovery in economic Erdoğan unveiled the steps of the IMPACTS OF activity, Turkey’s manufacturing normalization process. industry capacity utilization rate COVID-19 increased by one point to 62.6 Emphasizing the fact that these percent in May, indicating a recovery steps will open a new page for ‘a new Minister of Treasury and Finance in economic activity. Real sector normal’, President Erdoğan said, “We Berat Albayrak announced that confidence index increased by 10.1 have to lead our lives in accordance Turkey will carry out swaps in local points to 76.9, and the consumer with precautions that will protect currencies more effectively in the confidence index rose by 4.6 points to us from pandemic threats for a long coming period. Albayrak’s remarks 59.5 in the same month. time.” Relaxation measures will came after Turkey tripled its currency ease daily lives by also preventing swap agreement with Qatar. The the Covid-19 outbreak from gaining Central Bank of the Republic of Turkey momentum, said President Erdoğan. (CBRT) announced that the amount of its swap agreement with the Central Bank of Qatar has been increased On May 11, shopping centers were Dating from May 5, provincial to USD 15 billion from USD 5 billion. permitted to reopen. quarantines ended in 7 provinces, Ministry officials also said that swap some of which are Antalya, Muğla, negotiations with other countries Curfew on citizens of age over 65 and Aydın, leading destinations was removed once a week for a for summer tourism. And, dating continue and that they will announce period of 6 hours. from June 1, provincial quarantines the agreements as they are signed. ended in all provinces in Turkey. Curfew on citizens of age between Albayrak also hosted a teleconference 0-18 was removed twice a week for On June 1, all public personnel with international investors including a period of 6 hours. started to work at their institutions. Citigroup and Société Générale on May 6, where he shared the details of On May 11, barber shops and On June 1, kindergartens were Turkey’s success and the economic hairdresser salons were reopened. allowed to reopen. measures taken by the government Confidence Indices in Turkey in May 2020 On May 5, taxi cabs started working On June 1, restaurants and cafes as well as the roadmap of Turkey’s in the three most populated cities were permitted to reopen. economic policy after the outbreak. 120 of Turkey — Istanbul, Ankara, and Izmir. CBRT cut its policy rate by 50 basis 100 points to 8.25 percent from 8.75 percent as expected, taking advantage 80 of recent lira strength to keep Compared to the same countries. “The data supporting the economy amid the 60 TURKEY quarter of the previous reveals that strong coronavirus pandemic. This means year, the Turkish economy recovery in our economy RECORDS recorded 4.5% growth in Q1 continued in the first interest rate cuts since July 2019 40 2020, suggesting a strong quarter thanks to the have totaled 1,575 basis points. CBRT 4.5 PERCENT recovery and slight downside success of Turkey’s also released the second “Inflation 20 effects from Covid-19. fight against COVID-19. Report” of 2020 and revised its year- GROWTH IN Economic activity will Minister of Treasury and return to its potential level end inflation forecast down from 8.2 0 THE FIRST Finance Berat Albayrak in the last quarter of the percent to 7.4 percent. May-18 Nov-18 May-19 Nov-19 May-20 said that Turkey boasted year and we will complete QUARTER the strongest growth 2020 with a positive Real Sector Confidence performance among growth performance,” Consumer Confidence EU, the G20 and OECD Albayrak said. Economic Confidence

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MINISTER FIRST DOMESTIC FREIGHT TRAIN VARANK: FDI PASSES MARMARAY A freight train carrying raw plastic The company in charge of carrying STRATEGY TO materials from Gaziantep and Adana out the freight train transfer project reached the Çorlu district of Tekirdağ as said, “We established Ömerli and BE ANNOUNCED part of the first uninterrupted domestic Tekirdağ loading and unloading freight train journey connecting stations, Turkey’s two most TOGETHER Turkey’s European and Asian parts. important railway projects. Our The feat was made possible by goal is to carry 250,000 containers WITH THE utilizing the Marmaray . (5 million tons) nationwide from 2020 onward, 25,000 of which will INVESTMENT The 400-meter-long train departed be crossing under the Bosphorus. OFFICE from Adana and carried goods The transport we actually carried weighing 1,300 tons in 32 containers. out in 2019 is 2 million tons of Materials that were unloaded at Çorlu containers in weight. We aim to Minister of Industry and Technology “We will complete the Foreign Direct station will be transferred overland to contribute to the economy of our Mustafa Varank attended on May 22 Investment Business Strategy of our Asyaport in Tekirdağ. country and the webinar held by the International country along with the Presidency of by routing freight trains through Investors Association (YASED). During the Republic of Turkey Investment It is planned to transport 25,000 the Marmaray’s railroad tunnels, the webinar, he revealed that details of Office and share it with you soon. While containers annually when freight one of the foremost transportation Turkey’s soon-to-be finalized Foreign preparing the New Economy Program, train services become active along projects of Turkey.” Direct Investment Business Strategy we had especially put this issue on our the Marmaray route. would be announced to the public. agenda. It appeared that we were right. The timing was actually very accurate in Emphasizing that Turkey has to not order to catch the spirit of the new era. only increase the already-existing We want to move quickly with a result YARIMCA PORT WELCOMES investments but also attract new and impact-oriented strategy.” investments, Minister Varank said, LARGEST CONTAINER SHIP IN TURKEY’S HISTORY NEW RECORD SET WITH TURKEY’S DOMESTIC AND RENEWABLE ENERGY SOURCES Turkey is reaping the fruits of investments made into the energy sector. Minister of Energy and Natural Sources Fatih Dönmez announced that Turkey set a new record with its domestic and renewable energy Amid the global economic challenges by the company, the 2M consortium put aside sources. 90 percent of Turkey’s electric caused by Covid-19, Turkey is finding ways concerns related to the Covid-19 outbreak generation on May 24 was provided by to continue its trade activities. The DP World and agreed on enlarging the capacity of their domestic and renewable sources. Yarımca Port, operating in the northwestern ships carrying goods to the country. province of Kocaeli, welcomed the arrival of The total electric production on May a gigantic container ship named “MSC Tina,” “The DP World Yarımca terminal marked 24 was provided 43.7 percent by one of the largest of its kind in the world with the first stop for the MSC Tina, which has a hydroelectric energy, 16.5 percent by its 19,224-container capacity. 19,224 twenty-foot equivalent unit (TEU) coal, 14.5 percent by wind energy, 7.2 capacity, the largest of any ship coming to percent by solar energy, 5.3 percent DP World announced that the terminal Turkey. The modern design and technological by geothermal energy, 2.6 percent by received the ship, which was operating under capacity of the 922-meter-long dock at biomass energy, and 0.2 percent by a dual partnership of Maersk and MSC, which DP World Yarımca’s terminal allow for the other energy sources. together account for a significant share in docking of two 400-meter-long container Turkey’s commercial relations with East Asia. ships simultaneously,” the company reported. According to the written statement released

06 07 NEWSLETTER June’20 NEWSLETTER June’20 TRANSPORT AND THE FIRST FREIGHT TRAIN LOGISTICS IN TURKEY STARTED ON THE 6th Turkey’s rank among Europe in MODERNIZED transportation and warehousing SAMSUN-SIVAS in the past 17 years. RAILWAY LINE The Samsun-Sivas Kalın railway line, one of Turkey’s oldest USD 127 billion railway lines, was opened in 1932. In an effort to modernize the Total contract value of the 175 PPP projects line it was shut down on September 29, 2015, so that renewal in Turkey during the 2003-2018 period. works could take place. Thus began Turkey’s largest railway modernization project to date. Within the scope of the project, the entire infrastructure and superstructure of the 378 km line was renewed and the signal system was brought up to European Union standards. The project was recently completed, and initial tests of 27,000 km the modernized line began the past month. Total length of highways in 2018. (2002: 6,000 km)

1,200 km FILYOS PORT PROJECT Total length of high-speed COMES TO AN END railways. (2002: none)

Number of airports increased The construction of a port at Filyos zone. The Filyos Project is viewed on the Black Sea coast in Zonguldak as a ‘liberation of the region’ with a to 56 up from 26. province, an idea that dates back to target of generating 12,000 direct Annual passenger capacity of the newly-commissioned Ottoman times as a dream project employment in factories expected to Istanbul Airport, once all stages are completed and of Abdülhamid the 2nd, will finally locate there. Filyos Port, which is 67 once we return to normalcy, will be 200 million. be realized more than a century percent completed and is planned to later as it became a priority for be operational by the end of 2020, investment back in 2014. In addition will be commissioned with a load to the port, 6 million square meters capacity of 25 million tons. When it 10.8 million TEU of area was declared the ‘Filyos comes into service, the Filyos Project Capacity of maritime containers Industrial Zone’ in the investment is intended to be among the three transport. (2002: 2 million TEU) program. 4 million square meters major ports of Turkey. was opened to industrialists as a free Source: invest.gov.tr/en/sectors/pages/infrastructure.aspx

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20 20 3 INVESTMENT OFFICE MAY MAY JUNE AND IPAQ HELD AN ONLINE MEETING The Presidency of the Republic of Turkey Investment Office met with the Investment Promotion Agency of Qatar (IPAQ) via video conference to discuss best practices in the face of the Covid-19 pandemic. INVESTMENT ITALIAN BUSINESS INVESTMENT Investment Office Post Investment OFFICE SHARES COMMUNITY BRIEFED OFFICE ORGANIZED Services Unit Manager Fatih EXPERIENCES ON TURKEY’S POST- WEBINAR ON FDI Altunyuva spoke about some new support mechanisms introduced WITH KAZAKH COVID-19 ROADMAP WITH EY TURKIYE by the Investment Office. “We have COUNTERPARTS The Presidency of the Republic of The Presidency of the Republic of Turkey opened a new e-mail channel so Turkey Investment Office held a Investment Office along with Ernst that investors can quickly convey the The Presidency of the Republic of webinar for the Italian business & Young Turkey organized a webinar problems they face to our office. In Turkey Investment Office held an community on May 20 to share entitled “FDI 2.0: Now, Next, and this context, we have a support team experience sharing program with information on what economic Beyond with COVID-19” on June 3rd. working around the clock,” he said. Kazakh Invest via video conference on measures Turkey has taken and May 20. what Turkey could offer to its Italian Investment Office President Burak Altunyuva continued, “Our success in counterparts in the face of the Covid-19 Dağlıoğlu made the opening speech fighting the pandemic rests four main Investment Office Vice President outbreak. and welcomed the audience. Dağlıoğlu pillars in Turkey — social distancing, Ahmet İhsan Erdem made the opening provided an overview of the measures supply chains, public administration speech and welcomed the Kazakh At the webinar entitled ‘How does being taken by the Turkish government in and legal practices, as well as a Invest delegation. Erdem started his Turkey Support Italian Business response to the COVID-19 pandemic that strong healthcare system.” words by mentioning the joint programs Community During Covid-19?’, has affected over 6 million people globally. and ever-growing bilateral relations Furkan Karayaka, Head of the among the two countries. He then made Investment Office’s Overseas Activities “Turkey was not caught unprepared… a summary of the Investment Office’s Department, addressed the Italian Turkey has been investing in its primary roles of acting as a bridge UPCOMING delegation. Karayaka touched upon healthcare infrastructure by building— between government institutions and 12 the measures being taken against through public private partnerships— JUNE EVENT international investors and of promoting the outbreak that has affected over integrated healthcare campuses and Turkey as an investment hub in all 5 million people globally to date as city hospitals equipped with advanced global platforms. well as on the economic policies of technologies. It is worth mentioning the Turkish government to support the that foreign investors have played an After the opening remarks, the business community in the time of the important role in Turkey’s healthcare Investment Office team shared their pandemic. PPP projects,” he said. experiences and the Kazakh Invest delegation was briefed on corporate In addition to Ambassador of Dağlıoğlu also talked about the impact structure, project management process, Turkey to Italy Murat Salim Esenli, of the pandemic on FDI. “While the sectoral experiences, and aftercare representatives of Ferrero Turkey and recent developments are certainly services. Investment Office country advisor creating challenges for global FDI, on to Italy Gino Costa spoke during the the other hand, they are also going to webinar. More than 80 people attended create new opportunities for companies the program as audience. and investment promotion agencies,” he emphasized.

Head of the Strategy Department of the Investment Office, Muhiddin Keskin; EY Country Managing Partner of Turkey, Metin Canoğulları; and EY Associate Partner of Turkey, Serhat Akmeşe, also participated in the webinar.

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Investor’s Notepad

EBRD PRESIDENT CHAKRABARTI: “TURKEY WILL HAVE A V-SHAPED“ COVID-19 STATISTICS ECONOMIC RECOVERY FOR TURKEY “Every market in which the EBRD operates is contracting this year. I believe there will be a V-shaped improvement in Turkey and in As of May 19, the graph below and death toll. Since the beginning some countries where we operate.” illustrates the trends in the daily of May, notable decreasing trends numbers of respective factors, both in the number of death and of President of the European Bank for Reconstruction and namely Covid-19 cases, recoveries, Covid-19 cases can be seen. Development Chakrabarti said “This year, every market in which the EBRD operates is in a narrowing. I believe there will be a Number of People (Daily) V-shaped improvement in Turkey and in some countries where we operate. I expect our investments in Turkey will be higher this

year.” MOBIUS:“ CRISIS PRESENTS “ OPPORTUNITY FOR TURKEY

Mark Mobius, Founder of Mobius Capital Partners LLP, which focuses on investments in emerging markets, said that Chinese producers began looking outside of China to protect themselves from the trade war. “There are opportunities for Turkey here,” said Looking at the trends in the The graph below clearly highlights Mobius. “Chinese producers can come to Turkey, and then Turkey particular factors through the lens that Turkey has already reached the can increase its exports to the US and enter the US supply chain of cumulative numbers provides a peak level in the pandemic. more.” better insight.

Number of People (Cumulative)

160,000 4,500 US CONGRESSMAN STEVE COHEN 140,000 4,000 THANKS TURKEY FOR AID 120,000 3,500 3,000 100,000 2,500 “I appreciate Turkey’s donation of much-needed medical supplies 80,000 2,000 to help respond to the Covid-19 crisis,” said US Congressman 60,000 1,500 from Tennessee Steven Cohen. “Our NATO allies stand shoulder 40,000 1,000 to shoulder with us on the battlefield, and I am glad that they are 20,000 500 0 0 doing so in this battle as well,” he added.

Incubated Patients

12 13 TURKEY: HUB FOR INNOVATION AND GROWTH Easy access to multiple markets of $25 trillion GDP, $7.8 trillion trade, 1.7 billion people.

ACCESS TO Russia

MULTIPLE MARKETS GDP: $1.5 trillion Import: $0.2 trillion Population: 100 million

Europe

GDP: $19.5 trillion Import: $6.5 trillion Central Asia & Caucasus Population: 700 million GDP: $0.3 trillion Import: $0.1 trillion Population: 100 million

MENA

GDP: $3.6trillion Import: $1.0 trillion Population: 800 million

• Booming economy reaching USD 754 billion in 2019, up from USD 236 billion in 2002.

• One of the fastest growing OECD economies between 2014-2025, with a projected average annual growth rate of 4.7%.

• USD 217 billion of FDI between 2003-2019, while the total amount of FDI attracted between 1923-2003 stood at USD 15 billion. NEWSLETTER June’20 NEWSLETTER June’20

AVERAGE ANNUAL REAL GDP GROWTH (%) HIGHLIGHTS

(2003-2019) th • 13 largest economy in the world with USD 2.2 trillion (GDP at PPP). (IMF, 2018) Turkey 5.3 Ireland 4.6 • The fastest growing economy in Europe and one of the fastest Poland growing economies in the world with an average annual Israel GDP growth rate of 5.3% over the past 16 years. Slovak Republic 3.8 (TurkStat, 2003-2019) Chile 3.7 S. Korea 3.6 • The largest bus producer and the 2nd largest commercial vehicle Iceland producer in the EU.

Estonia 3.0 (OICA, 2018) Latvia nd th Luxembourg • 2 largest steel producer in the EU and 8 in the world. Australia (Worldsteel, 2016) Czech Republic New Zealand 2.7 • Among top 6 holiday destinations in the world with over Sweden 46 million international tourists in 2018. Mexico (UNWTO & Ministry of Culture and Tourism) Hungary Slovenia Switzerland United States Turkey Canada was the SOPHISTICATED Belgium fastest growing Norway CONSUMER BASE Austria economy of the United Kingdom OECD members A population of 83 million, Largest Netherlands during Germany half of which is under the age of around 32.4. youth Denmark 1.4 2003-2019, (2019, TurkStat) population Spain 1.4 with an average compared France 1.3 72 million with the Finland 1.3 annual growth broadband internet subscribers and EU. 80.6 million mobile phone subscribers. Japan 0.8 rate of (2019, Eurostat) Portugal 0.7 (2018, TurkStat and ICTA) Italy Greece -0.7 5.3% Source: IMF World Economic Outlook (October 2018) SKILLED AND 217 CUMULATIVE FDI INFLOWS DEDICATED LABOR FORCE TO TURKEY (USD BILLION)

• Investment incentives as well as R&D support.

• Equal treatment to national and global investors Over 32.3 million More than guaranteed by law. young, 800,000 students • 6.5 days to set up a company in Turkey, while it well-educated graduate annually from over

takes an average of 8.5 days in OECD high-in (USD BILLION) and motivated professionals. 183 universities. come countries. (World Bank Doing Business 2018) 2003-2019 (2018, TurkStat) (2018, CoHE)

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TURKEY’S CITY TURKISH HEALTHCARE HOSPITALS (2017-2020) SYSTEM (as of June 2020)

1,518 Hospitals 166,000 Doctors 30,607 Total bed capacity 1,100,000 19,354 Employees Rooms 1,085 Surgery Rooms 240,000+ Hospital beds

100,000 Single patient rooms 7,803 5,189 Polyclinics Intensive Intensive care units 40,000 care units 32,000 Healthcare professionals to be employed as part of the stimulus package.

14% City hospitals that have been launched across CAGR in heathcare expenditures 12 11 cities (22 projected) during the past 6 years.

Source: Ministry of Health Source: Ministry of Health

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Turkey is a perfect investment destination with its strategic location and motivated and Turkey’s economic qualified workforce. Global investors are invited to dynamism – be a part of Turkey’s economic and social growth. perfect match for innovation culture

Following the Toyota Way, we implemented the Toyota Production System to produce high-quality We believe 3M’s innovation culture built on 3M Science and Turkey’s economic dynamism is a perfect match. 3M’s global manufacturing and technological legacy, motor vehicles combined with the skills and dedicated work of our Turkish employees, will continue to strengthen 3M and the Turkish economy. We thank the Investment in Turkey.​​ Office for its valuable assistance and guidance throughout our decision and investment processes.

Toshihiko KUDO Hak Cheol SHIN President & ​CEO, Former Executive Vice President - Toyota Motor Manufacturing Turkey International Operations, 3M

Turkey is a dynamic and promising The core of the Turkish Two factories market with its young population 45 years of national economic agenda, and great location. It has a strategic and the key value for and over importance for Nestlé and offers investors, is a dedicated interesting opportunities for us to grow experience effort to promote innovation, and invest. We are proud to be here enhance competitiveness, 3,000 direct for more than 100 years and to make and encourage investment in contributions to the development of as a domestic global value chains. Dow has employees the Turkish food industry and Turkish over 45 years of experience consumers’ tastes over the years. as a domestic manufacturer We are convinced that there is still manufacturer in Turkey, and our new joint great potential to grow our business venture with AKSA is a key even more and to contribute to the in Turkey example of how we can bring Félix ALLEMANN development of the Turkish economy. together raw materials, a Former Chairman & CEO, Nestlé Turkey Having established our first factory in high-skilled workforce, and Turkey in 1927, today, we are carrying most importantly a booming out local production in Turkey together Andrew N. LIVERIS downstream customer industry. with two factories and more than 3,000 Former Chairman & CEO, DOW With a strong, pro-business direct employees. We are committed government in Turkey, the to offering high-quality products to our investment environment consumers that are healthy, nutritious, makes sense. And it is also and tasty. easy to operate, thanks to the Investment Office President and his entire team.

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• To present investment opportunities to the investors and provide assistance during all the WHO WE ARE WHAT stages of their investments. • To serve as the reference point for international investors and the point of contact for all institutions engaged in promoting and WE attracting investments at national, regional and local levels. Investment Officeis the official organization that: • To offer free-of-charge services including market information • Promotes the investment environment of Turkey and DO and analyses, site selection, provides assistance to investors. B2B meetings, coordination with relevant governmental institutions, and facilitate legal procedures and • Reports directly to the President. applications such as establishing business operations, incentive applications, obtaining licenses OUR and work permits. GLOBAL LOCATIONS HOW

WE UK GERMANY

ITALY JAPAN USA HELP SPAIN S. KOREA TURKEY

• Multilingual (Turkish, English, German, S. ARABIA UAE French, Italian, Arabic, Spanish, Chinese, Japanese and Korean) QATAR

• One-Stop-Shop approach SINGAPORE • Result-oriented

• Private sector approach with full confidentiality

• Focusing on high-tech, value-added and employment generating investments.

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Investment Office, the official investment advisory body of Turkey, is a knowledge-center for foreign direct investments and a solution partner to the global business community at all stages of investments. It provides customized guidance and qualified consulting before, during and after entry into Turkey.

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