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OBG talks to Ergil Ersü, Chairman, Gama Holding, and Orhan Paçacı, Member of the Executive Committee and Shareholder, Mesa Holding: Interview
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Interview: Ergil Ersü &Orhan Paçacı What are the factors you evaluate when determining whether or not to invest in a project abroad? ERGIL ERSÜ:Construction is an inherently unpredictable business both in and outside of Turkey. Sometimes you can spend a lot of time preparing a bid and then lose or it gets cancelled. Other times you can exert very little effort during the planning…

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Turkey's government seeking to consolidate growth and boost exports in the agricultural sector
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Substantial winter and spring rainfalls, coupled with heavy snow in many regions, broke the drought that blighted Turkey’s agriculture sector in 2013-14, with farmers looking forward to improved yields and higher earnings, rebounding from a lean year that saw one of the region’s leading agricultural producers having to import grain and other foodstuffs. One of Europe’s largest grain producers,…

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Turkey advancing major transportation projects with new highway, train and airport infrastructure
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The Marmaray tunnel, a rail link beneath the sea connecting Istanbul’s European and Asian districts, was a panacea for beleaguered commuters when it opened in October 2013. Plans to connect the two shores via an underwater tunnel date back to at least 1891 during the glory days of Ottoman rail, when a French engineer proposed to Sultan Abdülhamit II to build an underwater steel tunnel. However,…

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Turkey's health sector indicators improving under the government's Health Transformation Programme
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Great strides have been made in Turkey’s health care sector since 2003, when the government launched its far-reaching Health Transformation Programme (HTP). The HTP eventually led to the establishment of universal health insurance, while opening services and private hospitals to the majority of Turks. Improvements in patient satisfaction and health indicators have been steady, with infant and maternal…

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Public and private sector working to boost growth in Turkey's research and development field
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As Turkey tackles its Vision 2023 research and development (R&D) goals, the time is right for private firms and entrepreneurs to expand activities in a burgeoning research sector that will expand considerably over the next eight years. Although R&D activities still comprise a minor share of total GDP, growth in the sector is poised to soar in 2015 as the government invests heavily in new incentive…

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Turkey's expanding tourism offering driving sector growth
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Driven by government reforms, increased private sector investment, and one of the largest young populations in Europe, Turkey’s education sector has grown and matured impressively over the past decade. As the country moves forward on a host of education targets, including Vision 2023’s goal to reduce unemployment to 5%, macroeconomic fundamentals including literacy and enrolment have shown improvement.…

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Turkey's expanding tourism offering driving sector growth
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With a selection of archaeological ruins to rival Italy and Greece, 7200 km of scenic coastline, Istanbul’s unique blend of rich heritage and cosmopolitan culture and an advantageous location at the crux of three continents, Turkey’s diverse visitor offerings have seen its popularity grow rapidly over the past decade in the process of becoming a world-leading tourist hotspot. In the past 10 years…

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Turkey awaiting new income tax law to provide greater clarity
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Tax systems have a high level of impact on economic development. One of the topics criticised in Turkey is the failure to use tax to serve development to the desired level. Therefore, the authorities need to be aware of how tax policies can be used as an effective tool in rapid, fair and balanced development attempts, and introduce the necessary regulations to that effect. Laws in the Turkish taxation…

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Turkey creating legal framework to enable broader foreign investment
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With the primary goal of establishing a leading global financial centre in Istanbul, the Turkish government continues to create a legal framework that will encourage and accommodate this goal. The foundation was laid with the recent Capital Markets Law (CML) No. 6362. The Capital Markets Board (CMB) continues to align Turkey’s legal basis to comply with EU regulations. The following enactments and…