Int'l companies choose Turkey as regional hub

DAILY SABAH
ISTANBUL
Published 17.08.2016 22:34
Updated 17.08.2016 22:35

The economy, a young population, a more qualified labor force compared to surrounding countries, a strategic geographical location between the Middle East and Europe, ease of transportation, cultural affinities and exceptional business relations are just some of the reasons that Turkey has become a regional hub for international companies, resulting in an increasing number of international companies being managed from Turkey in recent years.

According to information from the International Investors' Association (YASED), 33 percent of member companies use Turkey as a regional hub, along with dozens of multinational companies including Coca-Cola, Visa, General Electric (GE), British Petroleum (BP), Procter & Gamble (P&G) and the Walt Disney Company, managing their regional affairs from within Turkey. In addition to advantages in business management, multinational companies prefer Turkey for investments, production, exports and logistics, primarily choosing to manage dynamic markets in the Middle East, North Africa, Eastern Europe and Central Asia from their Turkish headquarters.

Istanbul is regarded as the epicenter for these developments in the country. Speaking to Anadolu Agency, Chairman of YASED Ahmet Erdem said the aforementioned regions generate about 10 percent of the global Gross Domestic Product (GDP), adding that Turkey is a top preference among international companies as a hub in the region, which contributes to Turkey's goals to become an investment hub in the region, as well.

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