Istanbul Chamber of Commerce opens 2015 with new projects of global scale. ICOC aims to make Istanbul the safe harbor for investments globally with a new vision that entails high quality projects at international standards. Accordingly, ICOC custom-tailored its 2015 work plan with the motto of “Istanbul: Capital of Money”. Work plan comprises of three main parts: 2015 Global Vision, 2015 Local Vision and Projects, all aimed at making Istanbul the capital of money. CURRENT BUSINESS ENVIRONMENT President of ICOC Board, Mr İbrahim Çağlar said the following: “Istanbul has to be the capital of money for a number of reasons. Despite the economic and political uncertainties engulfing the world and slower growth in other emerging markets, Turkey sets the pace for growth with remarkable figures. It is also beneficial for us that the European Central Bank makes use of measures to support the markets and that the world economy is set to recover further in the coming year. Positive impact of lower oil prices on global macro economy, large scale projects that will transform Istanbul will all bring this city closer to realising its future self.” ICOC ASSURANCE FOR COMMERCİAL VISAS ICOC views a visa waiver program as the ultimate goal and in the meantime has signed commercial visa facilitation agreements with general consulates of many countries. Saudi Arabia, Finland, Austria and Denmark are the recent additions to the list of countries that take part in visa facilitation protocols with ICOC. NO BORDERS IN ECONOMY Istanbul Chamber of Commerce views the developments and threats of the global economy as opportunities and the whole world as a market to be tapped. ICOC will realise various projects for its members in the new year some of which can be summarised as follows: International Competition: The URGE program of the Ministry of Finance aims to enhance international competition through integration of Turkish companies to export markets and entails up to 75% reimbursement of costs related to export activities. Program will also provide detailed information about various incentives. First Step for Exports: This program, which has so far provided assistance for 220 companies in 10 phases, will have a new format to allow the duration of the training and consultancy assistance services to be extended by 2.5 times. Incentive Policies: Incentives Division of ICOC informs members about incentives and assistance services. It also will prepare information sheets in 3 different languages to ensure a steady flow of up to date information is available to both local and international entrepreneurs. 2023 Construction and Real Estate Strategy: A construction and real estate white paper will be prepared to reflect on global sectoral developments and assess priority and potential areas for development. It will also be complemented by two workshops where potential development areas and related bodies will be determined. SUPPORTING INDUSTRIES EXCHANGE OF TURKEY Last year, ICOC organised a get together for members and leading companies like Bosch, Hitachi, Aselsan, Girbau, Harman, Continental and Scheaffler. We will follow up on our efforts and expand the scope of Supporting Industries Exchange of Turkey in its 25th anniversary and diversify activities both geographically and by industry. Large Scale Projects:Istanbul Chamber of Commerce will continue its efforts in the new year to undertake large scale projects. Two such projects will be: Spatial Strategy Plan: Urban strategy planning undertaken by Ministry of Environment and Urban Affairs will see the establishment of an Urban Affairs Workshop, in cooperation with İLBANK and The Union of Chambers and Commodity Exchanges of Turkey. Technopark Istanbul: Technopark Istanbul, a joint venture of ICOC and Underecreteriat for Defense Industry will enter phase II in 2015. Phase I is already complete and the Technopark is home to 90 companies setting up in the R&D centre and 40 potential entrepreneurs operating within the incubator, called the “İdea Cube”. Total area of the Technopark is 61,000 square meters. OFFICES FOR USE OF OVERSEAS INVESTORS Overseas businesses wanting to invest in Turkey or undertake import activities will receive guidance services and benefit from daily office use for their initial contacts in Turkey.

07 Ağustos 2015 Cuma

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 City Ranking Score London 1 794 New York 2 779 Hong Kong 3 759 Singapore 4 751 Tokyo 5 720 Zurich 6 718 Boston 7 714 Geneva 8 710 Frankfurt 9 702 Seoul 10 701 Istanbul 47 633 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

SÜMEYRA YARIŞ TOPAL / ISTANBUL COMMERCE Having been the capital of first the Byzantine Empire, and then that of the Ottomans, Istanbul was always a center of trade. The historical city had been the world's most populous city for three centuries from the 16th on, was also a popular destination for merchants, due to its unique position connecting Asia and Europe. The most important symbols of trade in the city were, the Hans. In earlier days, hans offered both lodging and a place to exhibit wares for merchants. Later on, they assumed different functions, but always remained the heart of commercial life. Even though only around 100 of them remains today, compared to their presence in almost every street of the city in earlier centuries, they nonetheless are not in stark contrast compared to their earlier standing. Considered as monuments to Turkish to Turkey's commercial life, the hans' roots date back to caravanserais. Caravanserais were built on the beaten paths of trade, to provide lodging to the men of commerce, and also offered opportunities to set up networks for the merchants. The history of Istanbul's hans begins in the 15th Century. The oldest remaining han of Istanbul is the Kürkçü Han, built right after the conquest of Istanbul. Located on Mahmutpaşa Yokuşu, the han has two floors and two courtyards. While the upper floor accommodated guests, the lower floor provided stables for the rides of guests. The historical building survived to date, in pretty good shape. To boot, it maintains its function from the 15th Century, with the stores, offices, and storage rooms in it. FOR EACH PROFESSION As centuries passed, the functions and architectural characteristics of hans began to change. In 17th Century, dedicated hans sprout up for each profession. These hans, however, differ from the earlier ones, as they did not offer lodging. In these hans, the ground floor was dedicated to service and storage, while the upper floor served as offices. The commercial hans were named after the profession which occupied most of the stores in the han: Pastırmacı (Pastrami Makers) Han, Sepetçi (Basket Weavers) Han, Çorapçı (Sock Weavers) Han, Kaşıkçı (Spoon Makers) Han etc. Today, the commercial hans, which mostly date back to the 17th Century, maintain their purpose. Hans had their golden age in the 18th Century, but were replaced by office buildings by the 20th Century. The traditional hans which had stables underneath were by then outmoded by new forms which offered different functions for the growing population of Istanbul. These are the ones which look like apartment buildings, but which contain numerous offices, offering the function of today's business centers. The best example of these would be the Vakıf Hans built in early 20th Century. REMAINING ONES Having served as the sweetheart of commerce for 400 years to follow the conquest of Istanbul, the hans of Istanbul assumed different functions through the centuries. Even though their numbers fell from hundreds during the ottoman times, one can still come across some old hans in Istanbul. Particularly the hans around Eminönü continue to serve, albeit with slightly updated functions.

06 Ağustos 2015 Perşembe

FEDAİ YILDIRIM / ISTANBUL COMMERCE The first private museum of Turkey, to host modern and contemporary art exhibitions, Istanbul Modern Arts Museum, was opened in 2004, at Tophane's Customs Warehouse nr. 4. Celebrating its 10th year on 11 December, Istanbul Modern had always been able to draw attention of art lovers, thanks to its hit exhibitions, debates, and colorful educational programs. COLLECTS, PRESERVES, EXHIBITS Located on a 8 thousand square meters site on the shore of Bosporus, the museum is there to serve as a reference point for global arts scene. It collects, preserves, exhibits and documents modern and contemporary art works, photos, designs, architectural works, new media and cinema productions. ART LOVERS OF ALL AGES Serving as an intermediary to share Turkey's cultural identity with the international art scene, Istanbul Modern also supports the artists in their creative efforts and in access to international cooperation. Furthermore, the museum offers educational programs for art lovers of all ages, in order to render art more accessible to masses. On the other hand, the museum offers a wide variety of services with its limited-time and perpetual exhibits, photo gallery, educational and social programs, library, cinema, restaurant, and museum store. Each one among the Limited-Time Exhibits Hall, Photo Gallery, and Short Exhibit Halls of Istanbul Modern sees 2 or 3 limited-time exhibits per year. The museum also offers exhibits on modern and contemporary art from Turkey, and the works of artists from Turkey. It also serves as home to local and international exhibits which signify recent transformations in a number of fields such as visual arts, architecture, design, and new media. LEADING NAMES IN PHOTOGRAPHY Istanbul Modern Photo Gallery showcases bits and pieces from the history of photography, and serves as a witness of the recent transformation in the art of photography. The gallery presents the reflections of art movements on photography, and the history of photography in Turkey. Moreover, the museum exhibits works by leading names of photography in the national and international arena. FOR 10TH YEAR ANNIVERSARY The museum celebrated its 10th year anniversary, with an exhibit titled 'Çok Sesli' (Polyphonic) emphasizing the relationship between sound, music, and visual arts, and another one titled 'Yüzyıllık Aşk' (Centennial Love) with reference to the 100th year of Turkish cinema. Moreover, the exterior of the museum building is adorned with 'Gökkuşak' (Rainbow) by Sarkis. EDUCATION FOR CHILDREN The museum offers activities such as painting and model-building for all age groups, in order to introduce them to contemporary and modern arts. These activities are organized in parallel to exhibits, and run on weekdays and weekends. Furthermore, the museum offers free events for children with special needs, blind persons, and mothers and children. On the other hand, children in 4-12 age group can also visit the exhibits on weekends, and programs about the life of artists. These are designed to provide children with a feeling for different walks of art, from painting to sculpture, video to performance, design to architecture. WOMEN ARE MORE INTERESTED Istanbul Modern's Curator, Oya Eczacıbaşı noted the particular interest of women in contemporary arts, and pointed out the fact that 67 percent of local visitors were women. Eczacıbaşı said that the museum was visited by more than 5 million in 10 years, that it offered 5 permanent and 78 limited-time exhibits on its grounds, which, when coupled with 16 exhibits held abroad, brought the tally to 99. Eczacıbaşı, referring to the visitor profile, said "60 percent are local visitors, while 40 percent are foreigners. 67 percent of local visitors are women. In case of foreigners, both genders are represented equally. 25 percent of local visitors are younger than 28 years." BIENNALES Istanbul Modern also served the host of Istanbul Biennale, and engaged in cooperations with London Design Museum, Verbund Collection in Vienna, and Photograph biennales of Thessalonica and Moscow. OFFERS EXHIBITS ABROAD Istanbul Modern also offers exhibits at Berlin Martin Gropius-Bau, Seoul Art Museum, Boijmans Van Beuningen Museum in the Netherlands, National Museum of Bahrain, and Minsheng National Art Museum in China. Furthermore, Istanbul Modern was among the official sponsors of the events Turkish Season in France, 400th Year Celebrations of the Relations Between Turkey and the Netherlands, Turkey-China Year, and Turkey-Poland Year.

06 Ağustos 2015 Perşembe

İLKER BAŞÖZ / ISTANBUL COMMERCE Turkey's innovation and research center, Teknopark Istanbul, is marked by a huge potential, thanks to the opportunities it offers and the fields of technology it focuses on. Teknopark Istanbul is a technology development zone established to enable domestic and foreign entrepreneurs to contribute to Turkey's technology development capabilities, and to the creation of a dynamic environment of innovation within the zone. STRONG PARTNERS Teknopark Istanbul's primary founders are the Undersecretariat of Defense Industry and Istanbul Chamber of Commerce. The other partners in the endeavor are Havaalanı İşletme ve Havacılık Endüstrileri Anonim Şirketi, Istanbul Commerce University, and Savunma Teknolojileri Mühendislik ve Ticaret Anonim Şirketi. Designed as a neutral zone, Teknopark Istanbul serves as a development, application and research center for university-industry-public cooperation. 18 universities have plans to move their priority operations to Teknopark Istanbul, within the framework of university-industry cooperation. 3 HOURS AWAY Located at the convergence of Europe and Asia, Teknopark Istanbul is walking distance to Sabiha Gökçen Airport. Berlin is just 2 hours 45 minutes away, while Kuwait is at a distance of 3 hours and 25 minutes. The center is located at the heart of numerous organized industrial zones, for maritime industries, automotive, and energy. The plans for the center entail four phases. Currently, the first phase saw more than 100 active companies and 30 start-ups in incubation. The fourth phase to be reached in 2023 is expected to bring in more than a thousand local and foreign firms, more than 300 start-ups, and an annual turnover figure of 10 billion US Dollars. 2nd STAGE IN CONSTRUCTION The number of firms waiting for their chance to have a place at Teknopark Istanbul reached to 1,400. The second stage, the construction of which had recently begun, will increase the number of R&D firms to 300, while the number of start-ups is to rise to 250. TARGET SECTORS * Aerospace * Defense industry * Energy * Medical science * Maritime * Advanced electronics * Advanced materials * Industrial software and automation ADVANTAGES OF TEKNOPARK ISTANBUL * Substantial support from founders. * Right next to an airport, subway station, highway, and port. * Special support for defense industry projects and high-tech offset investments. * Meeting grounds for national and international universities and academicians. * Woods (forest) available for recreational use by participants. * Light manufacturing opportunities available in the 200,000 square meters special investment area next to the center. * Availability of hotel and convention center within the center. * District being one where any level of qualified workers are available. SUCCESS STORIES FROM TEKNOPARK ISTANBUL * Indoors wi-fi based positioning technology development project was awarded TUBITAK R&D start-up subsidy nr. 1507 for SMEs (INDOORA Mühendislik Danışmanlık Ar-Ge Yazılım San. ve Tic. Ltd. Şti.) * REP-SAIL (Renewable Energy Powered Hybrid Innovative Sailing Yacht) project was named one of the two projects worth support under the "Vehicle Technologies of the Future" under the "ERA-NET Transport" call for projects, among European countries. (MİLPER Pervane Teknolojileri A.Ş.) * The first vessel of the Rescue and Back-up Ship (KURYED) project, “A-583 IŞIN” was launched. (SEFT Gemi İnşaa Sanayi Mühendislik ve Ticaret Ltd. Şti.) * The solar-powered mobile charging stations produced by the firm were used at Garanti Bank's kyteboard event organized in Bodrum. (ONLAB A.Ş.) SUBSIDIES OFFERED WITHIN THE FRAMEWORK OF THE R&D LAW * R&D Centers * R&D and Innovation projects supported by international funds, government agencies, and foundations established by law * Pre-competition cooperation projects. * The following subsidies are available for activities to be carried out within the framework of techno-venture capital projects: * R&D Deductions: All R&D and innovation expenses are registered as deductibles when calculating commercial earnings (till 2024) * Income Tax Withholding Subsidy: 90 percent of the income earned by R&D and support staff who hold Ph.D., and 80 percent of the income of other R&D and support staff are exempted from income tax. * Insurance Premium Subsidy: 50% of the employer's share in insurance premium, calculated on the basis of the income earned by R&D and support staff, shall be subsidized out of the budget of the Ministry of Finance, for a period of 5 years. * Stamp Duty Exemption

06 Ağustos 2015 Perşembe