Industry & Retail

Turkey’s industrial sector includes a wide variety of manufacturers, primary producers and traders, responsible between them for a sizeable share of the country’s GDP. Steel, chemicals, pharmaceuticals, electrical and electronic equipment, building materials, cars, jewellery and clothing are all major export earners and magnets for international investors. All have benefitted from – and, indeed, driven – much of the country’s recent economic growth, with goods bearing the “Made in Turkey” label now more prevalent than ever in world markets. With the size of the retail market widely expected to double over the next decade, Turkey represents a major opportunity for retailers. Yet recent years have seen big internationals pulling out or downsizing their involvement, and as the pace of economic growth slows, consumer confidence is weakening and some challenges do remain. For foreign investors, the lesson would appear to be that retail businesses still need a strong dose of local knowledge. Good geographical positioning and local partnerships may therefore be the way forward.

This chapter contains interviews with Bora Yalınay, CFO, Ülker; Sadettin Korkut, General Manager, Petkim Petrokimya Holding; and Muharrem Dörtkaşlı, CEO, Turkish Aerospace Industries.