While the economic downturn in neighbouring Europe affected Turkey’s automotive industry negatively in the years after 2008 – as its largest export market shrank – 2013 saw some signs of a recovery north of the border, with a concomitant boost to European sales. European car sales grew in 2014 and early 2015, with the vast majority of Turkey’s automotive exports destined for...
Private pensions showed significant growth in Turkey over the course of 2013 and 2014, following implementation of a new law that introduced government matching of contributions for private pension. With the new law, designed as an incentive scheme to encourage more contributions into the system, as of January 1, 2013 the government matches 25% of individual contributions to...
Whereas the global insurance industry saw growth slow over the course of 2013 and 2014, Turkey’s insurance sector displayed resilience, making it an attractive industry for investment and expansion opportunities. Despite fluctuations in other sectors and a depreciation of the local currency, in real terms Turkey’s insurance sector experienced significant expansion in both life...
Manufacturing is playing an increasingly important role as the emirate pushes ahead with efforts to diversify its economy to build a long-term growth path that is less dependent on hydrocarbons. Abu Dhabi’s industrial strategy seeks to leverage competitive advantages in resources, location, infrastructure and governmental support to become a leader in a range of sectors...
Characterised by strong growth and increasing diversity, Abu Dhabi’s retail sector has come of age in recent years, as developers, retailers and franchises have moved to capitalise on its increasingly affluent and expanding population. Several landmark mall developments opened in 2013 and 2014, strengthening the emirate’s retail portfolio and catering to tourists and the...
As Abu Dhabi develops its manufacturing sector, and particularly the high-value part of the industry, quality and conformity have become ever more important. To this end, the government has been putting in place a quality and conformity regulatory infrastructure. The overall aim is to improve standards to increase competitiveness on the international market, boost value...
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