The number of newly established foreign-partnered companies in Istanbul has doubled, the head of the Istanbul Chamber of Commerce (ITO) said on Friday. "A total of 4,637 foreign-owned companies were formed in Istanbul between Jan. 1 and July 26, up 114 percent compared to the same period last year," Sekib Avdagic, told Anadolu Agency’s Finance Desk. Avdagic said the number of closed companies owned by foreigners slipped to 19 while it was 112 in the same period last year. Praising Turkey's new presidential system, Avdagic said simplification, productivity and predictability will be on the agenda with the new management model. He said reduced bureaucratic hurdles will help the government work more efficiently and effectively. Avgadic said Turkey should focus on rising internal savings and production oriented investments. He noted that businesses welcomed Turkish Central Bank's decision on keeping interest rates unchanged. "If Turkey continues to raise interest rates, we would get into interest dead-end," Avgadic said. The Turkish Central Bank on Tuesday announced it is keeping its one-week repo rate also known as the bank's policy rate constant at 17.75 percent. "Our expectation for the coming period is new additional policies to be implemented which will lower interest rates."

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SOYHAN ALPASLAN / ISTANBUL COMMERCE EuroData TV research report covers more than 7,000 channels and over 3.7 billion people in more than 100 countries. Report concludes that 70% of the globally broadcast fiction productions such as TV series and movies are locally generated whereas the remaining 30% is mainly imports. 25% of the imported global fiction programs originate from Turkey. These figures show that Turkey left behind US, Europe and Russia with a large margin in terms of exported TV series, movies and program formats. In 2016, Turkey became the export leader in the production of fiction works. 200 Turkish series were exported to 150 countries between 2010 and 2016. MOVIES ARE THE NEXT BIG THING The Turkish movie industry also experienced a rapid surge in demand. The success of series is followed by motion pictures. Muhteşem Yüzyıl (Magnificent Century) became the most exported Turkish series with sales to over 80 countries. The success of “Magnificent Century” even transcends China's tight quotas to be followed by the movie Dağ 2 (Mountain 2). With Turkish series and motion pictures going beyond the Great Wall of China, the EuroData TV research report shows the current size of the Turkish series sector worldwide. ONE OF THE TOP 75 MOVIES Turkish productions are ambitious not only in terms of series but also movies. As a matter of fact, the Mountain 2 became one of the 75 top-ranking films in IMDB, the industry's largest database, thanks to the votes of the millions of cinema lovers. Mountain 2 started to receive proposals for broadcast rights immediately after 70,000 viewers gave a rating of 9.9/10 to it in IMDB. Doruk Acar, the movie’s producer, and Melis Nersesoğlu Konca, marketing officer, said that they sold Mountain 2 to very significant markets including New Zealand, Korea, Australia, US, China, South Korea and the UK. EMMY AWARD WINNER Broadcast in over 60 countries, “Kara Sevda” (Endless Love) received the Best Telenovela award at the 45th International Emmy Awards. Kerem Çatay, the CEO of Ay Yapım, the production company behind Endless Love, said “We are very happy and proud that we received this award from such a reliable and multi-stage jury which has received, for 45 years, applications by great works from dozens of countries and assessed industry professionals from all over the world." SOUTH KOREA PURCHASES TURKISH SERIES The series “Fatmagül'ün Suçu Ne” (What is Fatmagül’s Fault), “Ezel”, “Kara Para Aşk” (Black Money Love), “Kara Sevda” and “Cesur ve Güzel” (Bold and Beautiful) were exported to more than 130 countries. South Korea purchased the Fi series, which has already been exported to many countries. “Fi” has become the first Turkish series bought by South Korea. TOURS ORGANIZED FOR SETS In these countries, the Turkish series not only break rating records but also create a huge economy with actors and actresses outfits, accessories and jewelry attracting high demand from viewers worldwide, even in traditionally dressed countries like India and Singapore. Tourists from all around the world want to take part in tours to have a glimpse of the production sets, that served as “home” to their beloved “characters” throughout the series. A RECORD IN SWEDISH HISTORY The Turkish series “Son” (The End) broke a rating record in Sweden. Attracting the highest number of viewers in the country among local and international productions, Son featured in the national press with titles such as “The season's best foreign TV series originated from Turkey, not the US.” Spain's Telecinco channel created excitement with a locally produced adaptation of Son, “El Accidente”. CO-PRODUCTION OFFER FROM SPAIN The global representatives of the industry watch with interest the proposals from Spain to the Union of Television and Motion Picture Producers for co-producing TV series. THOSE LOVING THE TRACKS BUY THE SERIES Thanks to the export of the series and increased international interest in Turkey, Turkey has now started to shine with its own TV stars. There is also a rapid development in content preparation, series music, animation and cartoons. The tracks of the Turkish series have started to become popular in target countries. There is an increase in the number of countries wishing to buy series after enjoying the tracks. THE CONQUERED DISNEY Limon and Oli, the first and only local cartoon series in Disney, became the first Turkish cartoon series to be broadcast in China and in Chinese. Limon and Oli is broadcasted in 112 countries with Disney Junior. Director Ayhan Çakar of Mart Agency, the brand's agency, said that Limon and Oli became the first domestic production to be published on Netflix, the largest digital broadcast platform. CHILEAN GIRLS ARE GIVEN THE NAME ELİF Nearing its 800th episode, the series Elif breaks rating record as the only international and local series to be broad-casted in Colombia on prime time. Producers İnci Gülen Oarr and Özkan İpek, who dethroned major soap operas with Elif described its success as follows: “We sell Elif to Chile, Mexico, Colombia, Costa Rica, Argentina, Uruguay and the America. We even exceeded the ratings of the Turkish series there. Elif also broke a record in Indonesia. It is sold to 40 countries including Lithuania, Romania, Greece, Bulgaria, Serbia, Macedonia, Brazil, Mexico and Bosnia and shown daily. İnci Gülen Oarr said that many girls born in 2016 were given the name 'Elif’ according to data from the Chilean Population Registration Center.

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ICOC published the section which tells about the life in the 17th century in the famed explorer’s travelogue, still attracting marvel even after thousands of years. The work Evliya Çelebi Seyahatnamesi (Travelogue) Istanbul offers a comprehensive historical panorama of Istanbul conveying the daily life 400 years ago with striking details. ENRICHED WITH MINIATURES Addressing all aspects of Istanbul in the 17th century, Evliya Çelebi’s Istanbul is accompanied by the most striking Istanbul miniatures and maps drawn by Ottoman artists. TRADE LIFE IN THE CITY  One of the travelogue’s most striking parts is Evliya Çelebi’s account of the merchants in Istanbul. Evliya Çelebi provides specific descriptions of hundreds of merchants catering for the needs of the city, and he transforms his travelogue into a picture book with such details. THE ADVENTURE THAT STARTED IN EMİNÖNÜ The unique travelogue of Evliya Çelebi is one of the most comprehensive and striking examples of its kind. Istanbul Chamber of Commerce is proud to present the Istanbul section of this adventure which sprouts from Eminönü to 25 million square kilometers with a special edition. The Istanbul section is regarded as one of the most important monographs written about the city to day.

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Cemile Sultan Korusu is located on Kandilli hill in the Asian side of Istanbul, welcoming its guests with hard to match views of Bosphorus. The grove is like a hidden paradise in Istanbul, taking its guests away from the noise of the city to a different world with the sounds of birds inside the trees and flowers. Cemile Sultan Korusu hosts different venues with authentic tastes on a 100-decare area, which has been maintained by the Istanbul Chamber of Commerce Foundation since 1994. CAPACITY FOR 1,100-PEOPLE The facility is ideal for individual and corporate events. It has capacity for 1,100 people and provides a good mix of business, entertainment and leisure opportunities with its restaurants and cafes, meeting rooms, swimming pools, indoor and outdoor tennis courts, basketball and volleyball courts, children's playground, fruit garden, mini golf course and giant chess park for enthusiasts of different kinds. In Cemile Sultan Korusu, you can rest your soul with the unique Bosphorus view while enjoying the unique tastes of Turkish and international cuisines in different cafes and restaurants. CEMİLE SULTAN'S STORY Cemile Sultan, the daughter of Sultan Abdülmecid, the 31st Ottoman sultan, lived from 1843-1914. When Abdülhamid II, his brother, succeeded to the throne in 1876, bought the palace in Kandilli for his sister Cemile Sultan by paying 25,000 golds. The palace was demolished in 1914 due to heavy taxes. After World War I, Greek shipowner Likardopoulos purchased the palace and the 99.5-decare-grove behind it, later transferring it to filmmaker Cemil Filmer in 1944. Filmer sold the grove to UCCET Insurance and Retirement Fund. ICCO Educational and Social Services Foundation operates the grove on a lease from the owner UCCET, refreshing its texture by planting nearly 2,000 trees. FOR YOUR BUSINESS MEETINGS... Koru Meeting Room: Technological infrastructure, a capacity of 100 people and peaceful atmosphere to make your meetings enjoyable. Sultan Pavilion Meeting Room: Enhancing the creativity of participants with a panoramic view of the Bosphorus, the hall has 35 people capacity. Hünkar Pavilion Meeting Room: Ideal for groups of 25 people. The meetings are even more enjoyable with wonderful views of Rumeli Castle. BOSPHORUS UNDER YOUR FEET, STARS OVER YOUR HEAD Koru Restaurant: You can taste selections from the world cuisines. Sultan Pavilion: Kebab alternatives will appease your taste buds with a Bosphorus view. Hünkar Pavilion: You can sample the special tastes from Mediterranean cuisine. Poolside: Magical days and nights with Bosphorus under your feet and stars over your head. Kır Tepe: A great countryside wedding venue! Let Bosphorus be a witness when you tie the knot. Şehzade: Rhyme to the rhythms of the beautiful waterfall at the Şehzade and say “I do” in style.

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ADEM ORHUN / ISTANBUL COMMERCE While Turkey has been promoting itself on the global stage through its good quality products, it has also been drawing attention through its R&D activities. Enacting many incentivizing and support mechanisms, the Turkish state is also supporting R&D activities through a Special Law in order to commercialize technological knowledge, establish competitive advantage, and support entrepreneurship. SPECIAL LAW The “Support of Research, Development, and Design Activities Law,” numbered 5746, aims to speed up the entry of foreign capital investments directed towards technology-concentrated R&D, innovation, and design, as well as encourage employment of R&D and design personnel and skilled labor. Turkey has witnessed the establishment of R&D centers nearly every week, encouraged through support to new set-ups and tax exemptions; there are now 934 centers. The support provided to foreign investors has had a positive effect in this area as well – while the number of R&D centers established by foreign firms was 42 in 2016, this number has risen to 126 this year. GERMANY IN THE LEAD German firms are in the lead when it comes to foreign companies establishing R&D centers in Turkey. Italy, Luxembourg, the Netherlands, France, and the US are also among the foremost countries in the list. Many German, American, Dutch, and Finnish companies working in partnership with Turkish companies have also been establishing R&D centers through the support they receive. SUPPORT LAW There are various ways in which support is being provided to R&D activities which help in gaining advantages on the global markets. The “Law 5746 in Support of Research, Development, and Design Activities,” enacted in order to support the establishment of R&D centers and the employment of skilled labor, provides myriad support for firms and entrepreneurs. The main incentives are as follows: Tax reduction Insurance premium support Income tax withholding Documentary taxes exemption Customs exemption TAX AND PREMIUM ADVANTAGES R&D centers can deduct the full costs incurred due to project activities from their corporate tax base. Half of the insurance premiums of R&D and support personnel and employer’s share are met. Expenses such as rent, water, energy, maintenance and repair, communications, transport, insurance costs, as well as costs associated with books, journals and other scientific publications are covered by the state. Additionally, there is a 80-95% income tax withholding for R&D personnel. WHICH SECTOR HAS THE MOST R&D CENTERS? According to data from the Ministry of Industry, and Technology, machine and equipment manufacturing, automotive supply industry, software, communications technology, and textile are the top five industries with the most R&D centers. A third of these centers are located in Istanbul; Kocaeli and Bursa are also among the top three. CRITERIA FOR R&D CENTERS The basic criteria for R&D centers wanting to receive the support provided by thelaw are as follows: R&D activities must be carried out in-country. The R&D center must be a separate entity and function within a single campus. At least 15 equivalent R&D personnel must be employed full time. There must be a mechanism to physically check that R&D personnel are working at this center. There must be R&D management with enough capability and capacity to manage technological assets, human resources, intellectual property, and project and knowledge resources. There must be programs and projects whose duration, budget, and personnel requirements have been recorded that will be carried out at the R&D center. HOW TO APPLY R&D center operations are fully conducted by electronic signature (e-signature). The necessary information and documents are logged in at https://biltek.sanayi.gov.tr. Following a preliminary examination by the Ministry, the center is visited and a report sent to the ministry. The relevant commission from the ministry comes to a decision, keeping in mind all of the activities conducted at the center. COMPANIES WITH R&D CENTERS IN TURKEY Huawei (China) Jotun (Norway) Ford (US) MAN (Germany) MS Pharma (Luxembourg) Fiat (Italy) Mercedes-Benz (Germany) Procter&Gamble (Italy) Unilever (UK) Valeo (France) Toyota (Japan) Bosch (Germany) Panasonic (Japan)

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