Overview on Investment in Turkey’s Business

Business Climate:

Turkey’s AK Party has appreciated staying in power for its substantial portion of yesteryear. This celebration, headed by Prime Minister Tayyip Erdogan owns a powerful business record.

Turkish Government quest to join the European Union oversaw fiscal restructuring required to get IMF funding, directed attempts to incite privatization of several big inefficient state industries, enacted legislation leading to currency stabilization and a decrease in inflation, also directed the effort which has generated continued economic growth. Thus, opportunities for business in Turkey (which is also known as “Бизнес в Турции” in Russian language) for overseas is bright in future.

This dining table (traces manipulated to reveal positions) obtained from Hill (2008) provides an overall snapshot of company climate from a comparative perspective. Taking a look at the figures in this table, it’s clear that Turkey has a marginally more collectivist mindset.

The world has witnessed a recent growth pull for Corporate Social Responsibility at the global level, a belief based on Turkey’s religions interlacing with business efforts. Drake & Ross (2003) say that firms “can no more think only about raising their earnings, profits, and amounts, and improving shareholder value.

Employer/employee relations are usually amicable in Turkey, who encounters hardly any strikes. As soon as an issue does happen, such motions are often brief, and relatively easily solved. Wages are somewhat low, based on a 2006 World Bank research, and corruption has witnessed substantial recent declines.

Due to recent economic policy changes which have given more stability and safety, Turkey has attained an increase in Foreign Direct Investment (FDI) from a billion dollars in 2001 to nearly ten billion dollars in 2005.

Furthermore, It’s estimated that Turkey will maintain its bullish economic tendency, realizing roughly 6.5 percent in yearly gains from 2008 – 2012.

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