invertir a turquia
TRANSCRIPT
REPÚBLICA DE TURQUÍA
OFICINA DEL PRIMER MINISTRO
La Agencia de Apoyo y Promociòn de Inversiones
Yasemen KORUKÇU Representante en España
“El Ámbito de Inversión en Turquía”
Index
- TURKEY WITH KEY FIGURES
-TOP REASONS TO INVEST IN TURKEY
-THE AGENCY
- WHY TURKEY?
Turkey with
Key Figures…
La 17a economía más grande a nivel mundial y 7a más grande en
comparación con los 27 países de la UE en 2011 (IMF)
Turquía tiene la población más jóven comparada con los 27 países de la UE
54 million credit card
users (2012)
67 million GSM users
(2012 Q3)
19 broadband
subscribers (2012 Q3)
Turkey is the 8th largest steel producer in the world and 2nd compared with
the EU countries (worldsteel 2012)
Turkey is the 16th largest automotive producer in the world (OICA 2012)
- Turkish Airlines is one of the fastest growing airlines in Europe
-The best airline in Europe (Skytrax 2011 & 2012)
- 131 million airline passengers in Turkey (2012)
- Istanbul Ataturk Airport is the best airport in Southern Europe (Skytrax 2010)
Turkey is the 6th most visited holiday destination in the world (2011)
International Tourist Arrivals
Country 2011
(million)
1. France 79.5
2. USA 62.3
3. China 57.6
4. Spain 56.7
5. Italy 46.1
6. Turkey 29.3
7. UK 29.2
8. Germany 28.4
9. Malaysia 24.7
10. Mexico 23.4
Source: UNWTO ;*Ministry of Culture and Tourism
Out of world’s top 100 best hotels 22 are from Turkey (TUI Holly, 2012)
FDI in Turkey
Source: Central Bank of Republic of Turkey & Ministry of Economy
Soaring FDI Inflows
5,6 6,7
8,8
11,7
15
18,7
21
23,7 25,5
29,4
32,6
0
5
10
15
20
25
30
35
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
‘000 Number of Companies with Foreign Capital
15
123
0
25
50
75
100
125
1923-2002 (80 years) 2003-2012 (10 years)
FDI Inflows ($ billion)
FDI in Turkey
The Growing Confidence in the Turkish Economy
Source: A.T. Kearney
Foreign Direct Investment Confidence Index 2012
Top Reasons to Invest In Turkey
Top reasons to invest in Turkey
Source: IMF World Economic Outlook, April 2012;
Dynamic, Stable & Attractive Economy
GDP & Income Key numbers
Population International Hub Structural Reforms
Benchmarking Performance of the Turkish Economy
Average Annual Real GDP Growth (%) 2002-2011
Source: OECD Economic Outlook No.91, June 2012
Let your business blossom in a thriving economy and promising future
The fastest growing economy among the OECD countries
Average Annual Real GDP Growth (%) Forecast in OECD 2012-2017
Top reasons to invest in Turkey
Dynamic, Stable & Attractive Economy
GDP & Income Key numbers
Population International Hub Structural Reforms
Source: OSD, Ministry of Transport, TURKSTAT, CBRT, EIU, Ministry of Development *including credit cards
Emergence of a new middle-class
Top reasons to invest in Turkey
2002 2011
Motor Vehicle Sales (thousands) 174 911
Motor Vehicles in traffic (million) 8,7 16,1
Airline Passengers (million) 33 118
Turkish Citizens visiting abroad (million) 3 6
Stock of Consumer Loans* ($ Billion) 4,2 129,4
Private Consumption per capita ($) 2.390 7.515
Healthcare expenditure per capita ($) 188 657
Dynamic, Stable &
Attractive Economy GDP & Income Key numbers
Population International Hub Structural Reforms
Source: Central Bank of the Republic of Turkey, European Central Bank , FED, Euro Area; 2009
Household Liability % of GDP
Top reasons to invest in Turkey
17
64
94
0
10
20
30
40
50
60
70
80
90
100
Turkey Euro Area USA
2010
Dynamic, Stable &
Attractive Economy GDP & Income Key numbers
Population International Hub Structural Reforms
Source: TURKSTAT
Stability and High Performance in the Economy
Dynamic, Stable & Attractive Economy
GDP & Income Key numbers
Population International Hub Structural Reforms
Top reasons to invest in Turkey
Annual Inflation
* As of February 2013
Top reasons to invest in Turkey
Source: UN *Number of people between ages of 15 and 64 **[Age 0-14 + Age 65+ ]/ Age 15-64
Dynamic, Stable & Attractive Economy Population
Age Labor Force GDP
International Hub Structural Reforms
Favorable Demographic Trend
Turkey
Source: IMD World Competitiveness Yearbook 2012, IMD WCY Executive Opinion Survey based on an index from 0 to 10
Top reasons to invest in Turkey
Qualified Working Force Indicators 2012
6,1
5,4
5,1
4,7
3,8
3,2
0 1 2 3 4 5 6 7
Turkey
China
Poland
Romania
Hungary
Bulgaria
Availability of Component Senior Managers
Dynamic, Stable & Attractive Economy Population
Age Labor Force GDP & Income
International Hub Structural Reforms
Source: TURKSTAT, Ministry of Development
Productive and Cost-effective Labor Force
Top reasons to invest in Turkey
Productivity and Unit Wages Index in Industry
(Per Worker; 2005=100) Dynamic, Stable & Attractive Economy Population
Age Labor Force GDP & Income
International Hub Structural Reforms
Top reasons to invest in Turkey
Source: OECD *Harmonized Unemployment Rate, seasonally adjusted
Dynamic, Stable & Attractive Economy Population
Age Labor Force GDP
International Hub
Structural Reforms
Employment Generating Economy
Turkey generated c. 3 million jobs since the onset of the global financial crisis in 2009
Top reasons to invest in Turkey
Fuente: *MERCER - Pan-European Employer Health Benefits Issues Survey 2008 **EUROSTAT 2011 data
Productive and Rentable Work Force
Horas
Jornada semanal a tiempo completo
Promedio Anual**
Dynamic, Stable & Attractive Economy Population
Age Labor Force GDP & Income
International Hub Structural Reforms
Promedio anual de absentismo laboral
(2008) *
4h
Top reasons to invest in Turkey
Source: Respective Companies
Business Capital for Regional HQs
Multinational Companies (MNCs)
MNCs Number of Countries
Managed from Turkey
Coca Cola 94
GE Healthcare 80
Microsoft 80
Intel 67
Unilever 36
Verifone 30
GlaxoSmithKline 30
BSH 30
Schneider Electric 27
Alstom 26
Ericsson 22
Cargill 20
Pfizer 20
Volvo 18
BASF 18
PepsiCo 14
Dynamic, Stable & Attractive Economy Population
International Hub Access to Multiple Markets
Energy Corridor Structural Reforms
Structural Reforms
FDI Law
Expats International
Arbitrage
Trademark
Protection
Corporate
Income Tax 20%
National
Treatment
Freedom to
Invest
Repatriation of
the Capital
Real Estate
Dynamic, Stable & Attractive Economy Population
International Hub Structural Reforms
Top reasons to invest in Turkey
Source: World Bank Doing Business Reports
Top reasons to invest in Turkey
Improving Doing Business:
Number of days to set up a company
Dynamic, Stable & Attractive Economy Population
International Hub Structural Reforms
Top reasons to invest in Turkey
New Turkish Commercial Code
effective as of July 2012
Transparency
Accountability
Institutionalization
Improvement in investment & business environment
Adoption of institutional management principles
Opportunity to perform legal procedures electronically
Dynamic, Stable & Attractive Economy Population
International Hub Structural Reforms
Dynamic, Stable & Attractive Economy Population
International Hub Structural Reforms
Top reasons to invest in Turkey
Structural Reforms: Yielding Results & Increasing Competitiveness
Global Competitiveness Index
Year Number of
Countries
Turkey’s
Rank
Turkey’s Rank
(Percentile)
2004 104 66 63,5
2005 117 66 56,4
2006 125 59 47,2
2007 131 54 41,2
2008 134 63 47,0
2009 133 61 45,9
2010 139 61 43,9
2011 142 59 41,5
2012 144 43 29,8
Source: WEF
The Agency
• Trabaja directamente con la Oficina del Primer Ministro
• La mentalidad del sector privado con el apoyo del Estado.
• Un equipo plurilingüe
• Ventanilla Única de Inversiones
• 2 oficinas (Ankara y Estambúl)
• Servicio Enfocado a los Resultados
• Según el Reporte de Progreso en Negociaciones con la UE, el establecimiento de La Agencia es la prueba del mejoramiento del ámbito de inversión en Turquía.
The Agency
Agencía
La Red Internacional
15
representantes 21 países
The Agency
for all potential investors!
n TUR KEY
Turkey: Vision of 2023
2011/12
772 bn USD
75.0 mln
10.469 USD
135 bn USD
%0,86 of GDP
23 bn USD
%9.1
2.236 km
888 km
GDP
Population
Per Capita Income
Export
R&D
Tourism Revenue
Unemployment
Highways
High Speed Rail
Line
2023
2.064 bn USD
82.5 mln
25.076 USD
500 bn USD
%3 of GDP
50 bn USD
%5
7.500 km
10.000 km
34
Why Turkey?
2023 Transport Targets
• 5 new airports to be completed by 2014 – Elazığ, Bingöl, Hakkari, Şırnak, Ordu-Giresun
• 3rd Istanbul Airport planned for 2015 with a 90m initial passenger capacity. Tender by first quarter 2013.
• New terminals planned for existing airports
• Canal Istanbul – creation of an artificial waterway connecting the Black Sea to the Sea of Marmara – US$ 50 bln project
• Major bridge in Çanakkale Straits (US$ 0.875 bln, as part of Tekirdağ-Çanakkale-Balıkesir motorway worth US$ 3.42 bln)
• Construction and privatization of ports and marinas (Transfering of Operational Rights & Built – Operate – Transfer model)
Why Turkey?
2023 Transport Targets - Rail
• 9,978 km new high speed rail lines through 29 cities
– 2 high speed rail lines have been completed (Ankara-Eskişehir, Ankara-Konya)
– 4 are due to be complete in 2015 (İzmir-Ankara, İstanbul-Bilecik, Bursa-Bilecik, Gaziantep-Halep)
– 9 more in planning stages:
• Alifuatpaşa-Doğançay tender due in November, Doğançay-Sapanca in 2013 (part of the Istanbul-Bilecik line)
• 4,997 km new conventional rail lines
• 7,000 km Iron Silk Road (Bulgaria to Georgia, passing through Istanbul, Ankara, Sivas, Erzurum, Erzincan and Kars)
• Expansion of the Istanbul rail and metro – current 154 km rail/metro capacity is expected to reach 641 km in 2023
• 8 lines currently at the tender stage (total of over 100 km)
Why Turkey?
Urban Infrastructure Projects
• $400 billion investment planned for urban renewal projects over the next 10 years
• 7 million units of housing
• 50 neighborhoods in Istanbul have been targeted for urban renewal projects
• 2 new cities to be built in Istanbul with 1 million population each – construction will start in 2013
• Istanbul Finance Center – planning complete and due to start construction
• 34 hospital investments currently undertaken with PPP ($US 15bln)
Why Turkey?
38
Opportunities in the Turkish Automotive MARKET
Passenger Car & LCVs Market Forecast (units)
929.326
1.320.000 +
2011 2018
Automotive Market Forecast (units)
Source: McKinsey
264.504
460.000
2011 2018
LV
Cs
602.248
860.000
2011 2018
Passen
ger C
ar
42%
Why Turkey?
European automotive market vs. Turkey Car density per 1000 inhabitants
Opportunities in the Turkish Automotive MARKET
Source: Ministry of Finance, IMF
forecast
Purchasing power per capita (USD)
39
3.394
2.334 2.332
1.534
837 791
Why Turkey?
Rapid increase in the electricity demand … … and significant growth potential
Per capita electricity consumption - 2010 (KWh)
2,800 Turkey
Greece 5,400
Italy 5,700
UK 6,100
Spain 6,200
OECD
Europe 6,250
Germany 7,100
X2.5
Electricity Demand (TWh)
7.7%
4.0%
Source: Privatization Administration of Turkey,
MENR
6th biggest and one of the fastest growing electricity market in Europe
Opportunities in the Energy Equipment
Why Turkey?
According to Goldman Sachs, Turkey will be the 9th biggest economy in th world and 3rd compared with all EU countries as of 2050.
1.China 2.USA
3.India 4.Brasil 5.Rusia 6.Indonesia 7.México 8.UK 9.Turkey 10.Japón
Source: Goldman Sachs, 2009
Why Turkey?
Increasing Confidence in the Turkish Economy
Source: Respective rating agencies
Turkey’s Sovereign Credit Ratings S&P Moody’s Fitch JCR
Scale Jan 2010 Feb 2010 Scale Dec 2009 Jan
2010 Scale Dec 2009
Jan 2010
Nov 2012
Scale January
2010 Februar
y 2010
A A2
A
AAA+
AAA
AAA-
A- A3
A-
A+
A
A-
BBB+ Baa1 BBB+ BBB+
BBB Baa2 BBB BBB
BBB- Baa3 BBB- Turkey BBB-
BB+ Ba1 BB+ Turkey BB+
BB Turkey Ba2 Turkey BB BB Turkey
BB- Turkey Ba3 Turkey BB- Turkey BB- Turkey
B+ B1 B+ B+
B B2 B B
B- B3 B- B-
CCC+ Caa1
CCC+
CCC
CCC Caa2 CCC CC
CCC- Caa3 CCC- C
SD Ca DDD D
D
Investment Grade by Fitch in Nov 2012
Why Turkey?
Why Turkey?
An Attractive and Promising Economy
(de 2002 a 2011, el PIB ascendió de 230 mil millones de $
a 772 mil millones de $)
Huge and Young Population
(75 million people with average 28.5 age!; 60% of the
population is younger than 35!)
Huge and developing domestic market
Liberal and reformist Investment Environment
Why Turkey?
● Qualified Work Force
(more than 27 million of profesional, qualified and
motivated work force)
●Central and Unique Location
●Energy terminal and Corridor of Europe
●Low Tax Rates and Incentives
ON
