Istanbul: Management base for global corporations

FEDAİ YILDIRIM / ISTANBUL COMMERCE

According to the Ministry of Economy's List of Firms with Foreign Capital Operating in Turkey, as of June 2014, 39,180 global firms trade in Turkey. Approximately half of these operate in Istanbul. To investing firms, Turkey in general, and Istanbul in particular offers the chance to control their operations in neighboring countries and manage their commercial operations with relative ease.

Turkey intends to be one of the top 10 economies of the world by 2023. In this context, becoming a 'regional base' is of strategic importance in terms of sustained growth and desired level of export growth, within the framework of Turkey's goal of increasing both. At this junction, Istanbul International Finance Center to be completed by the end of 2017 at a cost of TRY 4.5 billion, draws attention.

Istanbul International Finance Center will be larger than comparable centers in New York, London, and Dubai, and will render Istanbul a center of attraction.

JOB OPPORTUNITIES FOR 30 THOUSAND

Being implemented in Ataşehir on the Asian side of Istanbul, the project will not only serve as the round-the-clock heart of the financial sector. It will also provide employment for 30 thousand. Out of the total construction space of 2,500 thousand square meters, 560 thousand will serve as offices, 90 thousand as a shopping mall, 70 thousand as a hotel, and 60 thousand as residence. The project also entails a culture and convention center with a capacity of 2 thousand.

EASIER TO MANAGE REGIONS

Entities such as International Investors Association (YASED) publish various research and reports on how Turkey can become the country with the 'best investment environment' in the international market. These reports suggest the need to focus on regions which are easier to manage from Turkey, with reference to the dictate of geography.

Among these regions, certain Eastern European nations with which Turkey has close historical and cultural ties, as well as countries of Central Asia, Middle East, and North Africa.

The analyses indicate that, even though such regions are fragmented and relatively unstable, they would nonetheless make it easier for Turkey to become a regional base, on the basis of similarities of language and religion, and shared cultural roots and historical ties.

2014 RANKINGS FOR FINANCE CENTERS

BDDK AND SPK ON THE MOVE

The headquarters of the Banking Regulation and Supervision Agency (BDDK) and Capital Markets Board (SPK) will move to Istanbul. The move will be completed within 2 years.

ISTANBUL’S FINANCE CENTER RANKING LEAPS UP

Turkey’s financial capital is on a fast track to become a regional and global financial center, to reach the 47th rank of this year’s Global Financial Centres Index, up from the 72th place in 2009. Expected to climb to the 25th place by 2018 in the ranking issued by the London-based consultancy firm Z/Yen, Istanbul holds immense potential for accumulation and distribution of regional financial resources.

06 Ağustos 2015 Perşembe

Etiketler : English