Turkey plans to revolutionize its energy sector
A country that wants to gain a relevant position on the world stage needs to be self-sufficient in some sectors. Among the key areas for a powerful economy, independence in energy production is crucial.
Turkey – a member of the G-20 – has undergone some revolutionary transformations due to its ability to mobilize its resources, and has achieved strong advances in its national energy systems. This revolutionary change encouraged the private sector and increased mobility towards a the completely independent national economy in the country.
Recently, Turkish construction giant Kalyon Holding outlined plans to achieve Turkey’s economic independence with its renewable resources.
Kalyon’s investment allows Turkey to have the first and only factory in Europe and the Middle East that produces polysilicon ingots, one of the most important steps in the manufacture of solar panels and which requires the latest technology.
In the next 10 years, there will be low carbon competition in global trade. Turkey’s historic and revolutionary steps towards renewable energy technologies and resources could allow our exports to grow exponentially to numbers above $ 220 billion in 2023, mainly from the EU market.
Is it worth investing in Turkey even during the recession?
Although the negative impact of COVID-19 on the Turkish economy will be enormous, the country has a positive balance compared to other countries in the world. The agricultural sector, for example, has not experienced a major collapse. However, the results indicate that Turkey will experience a 9.2% recession and in the second quarter of 2020 in its GDP.
When we look at the real growth rate of several countries in the second quarter, compared to the same quarter last year and seasonally adjusted, the contraction across the EU will be 14.1%. The same rate is 22.1% for Spain, 21.7% for England, 19% for France, 17.3% for Italy and 11.7% for Germany.
In the America continent, it is observed that Mexico contracted 19%, Canada 13.5% and the USA 9.5%.
In other words, currently, investing in the Turkish energy the sector is a “hedge” for its assets since the country is better than most developing countries – and even developed ones.
How can Guide in Turkey help me to know the Turkish energy sector?
We can help businessmen who need help on issues related to Turkey, such as interpreter service and product presentation. If you are interested in expanding your company’s services to the Turkish energy generation market, please contact us via our phone or email:
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