Information & communications technology
Waste & water management
Türkiye’s growing economy offers opportunities in infrastructure, mainly in energy, healthcare and transportation.To achieve the goals of Türkiye’s 2023 Vision, various economic, social and infrastructure improvements are underway. The total value of public-private partnership contracts reached US$134 billion during the 2003-2020 period, according to the Investment Office of Türkiye. There are also opportunities in smart city development. Türkiye’s first Smart City Strategy and Action Plan was prepared by the Turkish Ministry of Environment and Urbanization covering the years 2019-2022. Many Turkish cities have smart city applications, offering growth opportunities for Singapore companies in smart energy, smart transportation, smart environment, and smart security projects. According to the Engineering News-Record (ENR), there are 44 Turkish companies in the list of the best 250 international contractors in the world, putting them in the second position after China. You can partner with Turkish contractors, who have successfully completed big projects globally, and increase your presence especially in Central Asia, Middle East and Africa.
Türkiye has grown to become one of the fastest growing energy markets in the world, with demand for electricity increasing at an annual rate of 6% between 2009 and 2023.An estimated US$130 billion in investments is needed to meet Türkiye’s rising energy demand within the decade. The Turkish government is encouraging investors to step up and implement renewable energy projects, offering incentives for investment proposals involving renewable sources of power generation.
Over 30 million metric tons of waste is produced annually in Türkiye and most of it ends up at municipal waste storage facilities or landfills, prompting the European Bank for Reconstruction and Development to launch a US$125 million Near-Zero Waste initiative in 2015.The Near-Zero Waste initiative has funded up to 12 investments spanning waste recycling and biomass facilities. Some key cities are running out of space due to rapid construction coupled with high rates of population growth. Istanbul has already begun constructing zero-emission waste-to-energy plants to meet this need. A 70 MW-plant is the latest project which will be the largest in Europe when it comes online next year. Proper wastewater treatment is still not widespread in Türkiye. Under the Wastewater Treatment Action Plan, existing plants and sewer systems will be renovated, and new sewer systems will be built. With development plans in the pipeline, you can tap the new opportunities that arise in waste and waste water management.
With a highly skilled labour force in the manufacturing and export sectors, Türkiye is the preferred choice for many international brands when it comes to production resources.Türkiye's large production base, access to high quality raw materials and competitive prices make it a prime sourcing destination. In 2021, the country exported US$225 billion worth of goods which include motor vehicles, trailers, basic metals, machinery and equipment, textiles, apparel, fur, food products and beverages, metal products and furniture. Many MNCs such as Toyota, Ford, Hugo Boss, and Nestle have identified Türkiye as their production hub. Venture into this market and seize the opportunity to access the local as well as the Middle Eastern and European market.
Learn about Türkiye’s business hub
Istanbul is the financial and cultural centre of Türkiye. Its strategic location at the crossroads of Europe and Asia makes it an ideal spot for many local and international corporations to set up their headquarters.