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The Business Community is Confident about the Turkish Economy in 2018

Written by: Bridgewest

Foreign enterprisers looking towards the Turkish market in 2018 can be confident that they are making a good decision, as the representatives of the business world here have strong belief in the local economy this year. The developments in the global economy are expected to have a positive effect on the Turkish economy. If you want to open a company, our Turkish lawyers can offer information on the legislation related to foreign investments.

Higher production rate and more incentives are expected

Turkey has a very diverse business community made up of very large manufacturers which has been enriched by the small and medium-sized business owners who have joined in in the past few years. These believe that 2018 will be a very good year for the Turkish economy as the developments of the worldwide economy are expected to become steadier and thus have a positive effect on the local one.

If last year the Turkish economy contracted, this is not the case in 2018, according to the representatives of the business world in the country. New measures and incentives are expected to increase production levels, investments are believed to grow as well, and exports will most likely pick up the pace too.

If you want to open a company in the trading sector, one of the most important industries in this country, you can rely on our law firm in Turkey for assistance.

Turkey to improve its ranking in the World Bank Ease of Doing Business Index

Experts agree with the business community in Turkey, as according to their calculations, the country should improve its position in the World Bank Ease of Doing Business Index in 2018. If in 2017 Turkey ranked 60th, it is expected for the country to reach the 30th position, surpassing larger economies such as China, Japan and Russia.

Professionals also believe 2018 will bring more stability to on the Turkish market and the economic performance will rely on a more predictable environment.

According to a report issued by the OCED at the end of 2017, Turkey’s economy is expected to grow by at least 4% in 2018 and up to 4.5% - 5% in 2019.

Foreign investors who want to start a business in Turkey have many industries they can choose from. For details of the formalities to fulfill or assistance in registering a company here, please contact our lawyers in Turkey.