The migration of large global companies from Türkiye

According to the report of the international group Tasnim news agency, publishing the news of Azim’s decision “Burusan” surprised economic activists and Turkish heavy industry managers to leave the Turkish market. Because this large holding has been one of the giants of Turkish industries for seventy years and has taken over the Turkish market by producing more than four hundred products in the field of steel pipes.

But now, Borosan has announced that it will transfer a huge part of its capital and industries to America, and the other part will operate in Italy and several other countries, and it is not going to continue operating in Turkey. This company has more than 4,000 workers and technicians and is considered one of the most important holdings in Turkey. and “capital migration” and in addition to Borosan and in addition to several companies belonging to Turkish heavy industries, several famous foreign companies are also leaving this country.

Dollar in Turkey, slowly It approaches the terrible rate of 30 lira and the economic crisis in this country continues. As a result, many production groups are leaving the field and moving towards speculation and mediation.

According to the monthly data of the Union of Turkish Chambers and Commodity Exchanges (TOBB), 2 1,417 companies were closed in November 2023, and a total of 19,931 Turkish companies closed down in 11 months of this year. In the said period, compared to the same period last year, the number of closed companies increased by 7.2% and the number of private businesses increased by 44.7%.

Turkish economic experts believe that Considering the current state of the industry, production, services and trade market in Turkey, 2024 will also be a difficult year for the people of this country.

Erdogan’s government policies make companies run away

Many representatives of Erdogan’s opposition parties talk about the economic crisis in Turkey They warn, but the economic team of the Erdogan government has announced that the situation is getting better and inflation in Turkey is going to be a single digit in 2026.

Burak Dalghin, one of the representatives of the Jashsh and Democracy Party In the Turkish Parliament, in a press conference, he considered the migration of large companies from the country as a worrying and deplorable situation and said: “The owners of the large Borosan company have announced that they are leaving Turkey.” Because in other countries, production support policies make it easier for industries. We need to understand their situation. We have warned many times in the parliament. If we do not do anything to support the industries, they will all leave Turkey. Although a part of Burosan factory was established in 1958, its foundation stone was laid in 1912. As a result, one should ask: What happened that a huge company that has worked and served in this country for 111 years, has now come to the conclusion that it can no longer continue? The owner of this company says: They have done something that we can no longer make a profit. This means that our producers become more desperate year by year because of government policies and finally come to the conclusion that they have to transfer their capital and property to America and Europe”.

Economic experts in Turkey believe that the increase in production costs caused by the increase in taxes, currency fluctuations, the increase in fuel and transportation costs, and Turkey’s cold relations with European countries, caused the production cost to rise first and Second, export and marketing will face many problems. Thirdly, the foreign investor is not willing to participate and invest, and the companies have faced problems for financing.

American, British and Japanese brands are leaving Turkey

In addition to large production centers such as Borosan, several large foreign companies are also leaving the Turkish market. are. The Japanese car manufacturer Honda, the American Ford car battery investor and the English oil giant British Petroleum are among the other holdings that migrate from Turkey to other countries one by one.

BP or British Petroleum, the decision to hand over all its fuel stations in Turkey. BP has agreed to sell its subsidiaries in Turkey to semi-state company Petrol Ofisi, and the change is expected to be completed by at least 2024. As part of the agreement, 770 BP stations in Turkey are to be handed over, and in this way, the British giant will exit the fuel retail business in Turkey. continue its activities in Turkey, including Castrol and Baku-Tbilisi-Ceyhan (BTC) pipeline and TANAP pipeline operations. , was supposed to establish a huge car battery factory in Turkey in partnership with the rich Koç family. But now the Aries Group has announced that the American side has withdrawn from the previously announced goal and has officially announced that it does not want to invest in Turkey.

In addition to the English and European holdings, The Japanese Honda Group is also leaving Turkey. Honda, which announced that it will stop production in September 2021, has officially closed the factory and sent 2,000 employees and Turkish workers home.

Honda President Takuya Tsumura “We are aware of the rapidly changing market dynamics and the need to lead technological developments,” Turkey said in its assessment of the issue. This situation will inevitably affect our car production operations in Turkey and finally we came to the conclusion that it is not cost-effective to continue working in Turkey”.

Is unilateral exemption a solution?

By the order of Turkish President Recep Tayyip Erdogan, for citizens of 5 countries of the world, One-way visa exemption was announced. From now on, ordinary passport holders of the United States of America, Bahrain, the United Arab Emirates, Canada, Saudi Arabia and Oman will have visa exemptions for tourist trips to Turkey.

The Turkish government hopes With this action, it is to attract American, Canadian businessmen and wealthy Saudi Arabian, Bahraini and Emirati businessmen to Turkey. But the statistics of 2023 indicate that the desire of Arab countries to buy property in Turkey has also faced a significant decrease.

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