Investment in Turkey
Foreign direct investment in Turkey
World Bank report: "Turkey is moving forward"
A recent document released by the World Bank on its Web site details positive developments in Turkey's economy, education, science and healthcare systems. The assessment, titled "Turkey's Development Results," noted that Turkey is making progress in its development across a range of sectors, including modernization of the cadastre and land registry systems, increased efficiency within the energy sector and the assistance provided to growing businesses for accessing needed capital. "The country as a whole is moving forward, and it is seeing results," the bank stated.
Metro Group plans to open 10 large stores in Turkey
Metro Group Executive Board President Eckhard Cordes said on Tuesday that they were planning to open 10 large stores in Turkey by investing approximately 100 billion euro. Metro Group CEO Cordes made public the balance sheet of Metro Group in 2007 at a news conference. Cordes said Metro AG Executive Board considered Turkey a magical country recording a very rapid growth rate and having an attractive economy.
Global Yatirim Energaz offers highest bid for Ankara natural gas grid
Global Yatirim Holding won the auction for a gas-distribution network in Ankara with a $1.61 billion bid Friday. Global and its partner, Energaz, beat seven companies including Spain's Gas Natural SDG and Turkey's Calik Holding to buy Baskent Dogalgaz Dagitim, a network that sold 3.16 billion cubic meters of natural gas last year, reported Bloomberg. If approved, Global-Energez will be allowed to import natural gas for the network from 2009. Global will be required to sell the gas to consumers in Ankara at a maximum 5.5 cents per cubic meter for 10 years. Global's shares surged 5.5 percent after the auction, closing at YTL 1.21.
Turkey's competition authority approves sale of Migros shares
Turkey's competition board approved the sale of a part of the shares of Migros, the country's largest retail chain, to Moonlight Capital S.A. Moonlight Capital S.A., controlled by London-based private equity firm BC Partners, agreed with Turkey's Koc Holding last February to buy 50.8 percent of the Migros shares for 3.2 billion euros.
Russia's metals giant MMK to build $1bln plant in Turkey
The Magnitogorsk Iron and Steel Works (MMK) will launch construction of a plant worth over $1 billion in Turkey on March 15, MMK CEO Viktor Rashnikov said. "We have started the construction of a factory in Turkey. On March 15 I'll lay the foundation stone. The plant is expected to reach a production capacity of 2.6 million metric tons of steel and hot-rolled mill products by 2010," Rashnikov said.
In May 2007, MMK and Turkish coal company Atakas Group announced plans to build a metals complex in the industrial zones of Istanbul and Iskenderun with annual output of 2.6 million metric tons of metal products. In July 2007, MMK acquired a stake of 50% plus one share in Atakas Metalurji for $102 million. The company will be eventually renamed MMK Atakas Metalurji. MMK is the largest enterprise in Russia's steel industry accounting for about 20% of all steel products sold on the domestic market. MMK is a major fully integrated steel making complex performing the complete production cycle from preparation of iron ore materials to high added value processing of steel.
“Foreign investment may reach $30 billion”
Ibrahim Dabdoub, CEO of National Bank of Kuwait, which acquired 40% of Turkish Bank last year, has stated that, according to their expectations, the amount of the direct investment attracted by Turkey will reach $30 billion and the countries in the Gulf Region as well as the Middle East Region will especially increase their shares in these investments.
FT REPORT - INVESTING IN TURKEY: After financials, energy is next up for investors
FT- The AKP's economic policies have supported an investor-friendly environment, including continued disinflation and a regime of tight fiscal and monetary policy set in motion by former finance minister Kemal Dervis in 2001.
Foreign investors give full support to Turkey
Attendees of the meeting included CEO's and many executives of 21 multi-national companies from 11 countries managing $750 billion. “We are continuing with our investments,” said the businessmen. “We see that the confidence that Turkey has provided is guaranteed,” they said. The upcoming elections are not believed to be an event that would damage the trustworthy environment and economic stability and are a necessity of the democratic process, foreign businessmen added.
$1.8 billion investment in energy
The Turkish electricity energy sector is expected to receive annual investments totaling $1.5 - $1.8 billion in the next three years, according to a study by the Energy Research Unit of the Energy Water and Gas Syndicate of Turkey.
ING 's Turkish Banking Delight
ING Group has paid through the teeth for Ovak Bank, but the market thinks it was a fair price for breaking into Turkey's lucrative banking market.
Gulf capital in Turkey reaches $3 billion
Recently investment from the Gulf region to Turkey is breaking all records, rising from $70 million in 2002 to a forecast this year of $3 billion. In 2006, investments by Gulf States to Turkey totaled approximately $1.9 billion.
Capacity utilization increases
Capacity utilization in manufacturing industry reached at 84 percent in June, according to the results of 'Tendency in the Manufacturing Industry June - 2007' survey, published by Turkish Statistical Institute on July 17. Capacity utilization rate was 92.5 in public sector and 82.6 percent in private sector last month. Capacity utilization rate over the same period last year was 90 percent in public sector and 82 percent in private sector.
Invest in Turkey
Alcan has represented a wide spectrum of entities involved in all aspects of asset management. The firm has extensive experience with all varieties of investment funds, including open-end and closed-end mutual funds, insurance company separate accounts, private equity funds, hedge funds, country funds, emerging market funds, leveraged buyout funds, offshore funds, and infrastructure (project finance) funds. We also represent fund managers, including registered investment advisers, and private money managers.
Turkey is strategically located in the middle of Europe and Asia, and is an excellent basic for international investments. There is a great access to the wide markets ranging from Europe, the Middle East, the Black Sea region and the Turkish speaking republics of Turkey. Within the developing economy, Turkey becomes a financial and commercial center. Besides Turkey is also attractive for investments, because of the government’s privatization program. ALCAN counsels on incentives and provides legal opinion, for your investments in Turkey.
With a view to optimising conditions for the business projects of international investors, ALCAN offers the following services:
- We provide full information on how to set up a business in Turkey.
- We advise on investment incentives, processing applications and issuing incentive certificates.
- We provide information on labour, infrastructure, trade, investment sites, Turkish legislation, and all other topics relating to Turkish business structure.
- We find investment sites on the basis of the investor's preferences.
- We provide guidance for administrative, legal, tax and labour procedures.
- We offers contacts with key private and public sector institutions.
- We give prompt and reliable replies to all general or specific investor inquiries.
- We facilitates contacts and finding suitable counterparts with local partners.