Turkey Emerges as Key Investment Hub
In the year 2024, Turkey saw a significant influx of investments from various companies across different sectors. Some companies not only decided to invest in Turkey but also announced plans to expand their existing investments within the country.
One notable investment comes from WEG SA, which is set to invest around 28 million euros to establish a reducer factory in Manisa. This investment aims to meet the demand in the reducer market and increase the company’s production capacity for components. The new factory, to be completed by 2027, will help increase the production of reducers outside of Brazil.
Teknik Alüminyum Sanayi AŞ plans to invest approximately 384.9 million dollars in an aluminum factory in Tekirdağ. Additionally, Tosyalı Toyo Çelik AŞ announced an increase in capacity for tin products, with aims to realize a capacity increase of around 200 million dollars.
Foreign investors also showed interest in Turkey, with China-based Kaishan Group announcing a 1 billion dollar investment in Izmir. This investment will result in the employment of more than 700 people in total.
On the renewable energy front, Germany-based Nordex Group announced a 1 billion euro investment in onshore wind power plants in Turkey. Chinese companies like Ganfeng Lithium and Gotion Group also signed agreements to invest in Turkey’s renewable energy sector.
In terms of product supply investments, companies like Mercedes-Benz Türk and Mubea Aviation expanded their operations in Turkey, further establishing the country as a key connection point for investments in various sectors.
Overall, these investments are seen as a positive sign for Turkey’s economic growth. Presidential Investment Office President Burak Dağlıoğlu highlighted the importance of these investments in strategic sectors, stating that they support economic growth and pave the way for Turkey to become a global player in sustainable and innovative industries.
