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Analysis

Turkey's plans to build nuclear reactors to boost power generation capacity repeated delayed
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In an effort to join the club of nuclear nations, Turkey has announced plans to build 12 nuclear reactors by 2030, with the intention that 20% of power generation capacity will be provided from this source. However, while eight projects have been approved, delays have already befallen the initial build-own-operate (BOO) project, Akkuyu 1, pushing the commencement of its operations to 2022 from the…

Analysis

Turkey working to expand domestic hydrocarbons resources through continued exploration activities
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While Turkey may be at the crossroads of civilisations, it is in a hydrocarbons cul-de-sac. The country is surrounded on all sides by significant oil and gas deposits that all stop short of Turkish frontiers. The bountiful Zagros fold and thrust belt, which extends from the Arabian Peninsula up through Mesopotamia, ends at the Turkish-Iraqi border. A few hundred miles away is the super giant Kirkuk…

Analysis

Turkey makes progress on Trans-Anatolian Pipeline to transport Azeri natural gas to Europe
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The country’s demand for energy is rising and new supply sources for natural gas are needed to generate electricity, heat homes and cook. Due to scarce domestic supplies and a lack of sufficient liquefied natural gas infrastructure, those supplies will mostly come via pipeline. Turkey has trained its eyes on tapping the planned link from the Shah Deniz II gas development in Azerbaijan to markets…

Analysis

Turkey's insulation segment growing faster than the construction sector
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With Turkey undergoing a major construction drive during the last few years, many associated trades have seen solid growth. One segment showing particularly impressive expansion has been insulation, which has averaged higher growth than construction as a whole, on the back of the insulation of both existing buildings and new ones. There is also still much room for further growth, as Turkey aims to…

Analysis

Turkey's construction sector driving growth in mining and construction machinery and equipment
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As Turkey’s economy and population have expanded, growth in its construction sector has benefitted from the existence of a vibrant domestic industry for manufacturing machinery. According to 2013 data from the Turkish Construction Equipment Manufacturers and Distributors Association (IMDER), the construction and mining machinery and equipment (CMME) sub-sector posted the second-fastest growth in…

Analysis

Turkey makes progress on food safety to meet EU regulations and expand agricultural exports
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Few treats are as simple and pleasing to the palette as a fresh tomato from a Turkish summer market. But in 2010, worries about pesticide contamination brought strict curbs on exports to the EU, hitting local tomato farmers, among the world’s top five producers of the Mediterranean staple. However, the EU has now abolished the more stringent inspection requirements on tomatoes, satisfied with Turkish…

Analysis

Turkey developing inter-city and national rail connections to improve transportation network
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Taking the train to Ankara from Istanbul used to be a leisurely affair. After a snack at Gar Lokantası, the blue-tiled restaurant inside Haydarpa şa station that was built by German engineers in 1872 and once served as the terminus for the Baghdad-Istanbul Railway, travellers boarded the train as the sun set. A clattering eight hours later, the train crawled into the capital’s main station. Now…

Analysis

Turkey's tourism sector targets and growing visitor traffic attracting international hotel chains
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New infrastructure and investment will be critical to reaching tourism targets as Turkey barrels towards its Vision 2023 goals, including welcoming 50m visitors and earning $50bn in tourism revenues annually. Hoteliers in Istanbul, the country’s largest city, are investing heavily in new offerings, with thousands of new rooms set to enter the market in 2015. More significantly, the government is…

Analysis

Turkey in need of better tax incentives to encourage investment
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Countries around the world have been making significant attempts to further direct foreign capital investment. In a globalised economy, the degree of foreign investment that a country attracts can have a significant multiplier effect, contributing to technological advances, employment opportunities and the ability to invest more in welfare. Keeping the state’s taxation system up to date as economies…

Analysis

A look at how Turkey's tax laws treat corporations
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At present there is no definitive definition for corporations under the law and there are no defined criteria. However, it is possible to draw some conclusions making use of applicable provisions from the Turkish Commercial Code No. 6102 and various other regulations as outlined below. Commercial Code As stated in Section 40 of the Commercial Code, the location of the company headquarters can determine…