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26.07.2007

Willi Hemetsberger Presents Investment Guide for Turkey

The newly released "Turkey – Profile of a Converging Economy" offers investors a comprehensive look at this booming market on the Bosporus. "Caught between the desire to join the EU and strong Islamic forces in its society, Turkey garners a great deal of international attention. I have come to know and appreciate Turkey as a wonderful country with a pulsing economy. For this reason, I decided to show committed investors what opportunities are opening up here," explained Willi Hemetsberger, head of global markets at UniCredit Group and Management Board member at Bank Austria Creditanstalt (BA-CA), at the presentation of the new Turkey guide.

As a result of the government's successful reforms, which are also being funded by the IMF, the World Bank and the EU, more and more multinational companies are making Turkey one of their key investment targets. As a result, direct investment in 2006 alone matched the total investments for the years 1993 to 2005.

Co-publisher Simon Quijano-Evans, Turkey expert and interest rate and currency analyst at UniCredit Group, is convinced that the Turkish government is on the right path: "Investment activity has been brisk even in the turbulent election year 2007. After the results of the elections on Sunday, there is nothing to prevent the government from stepping up the pace of its reforms, a process that is especially important for the economic development of Turkey and also for the surrounding region."

Turkey is not only an important trading partner for the EU (the country imported EUR 8 billion more in goods from the EU than it exported in 2006), it also plays an important geopolitical role.

The book provides an overview of Turkey from an economic and political perspective. While it is intended primarily as a guide to assist companies in their investment decisions, it is also a good general introduction to the diverse country that is Turkey.

Key focuses of the book are the current company establishment laws, detailed information on the current tax regime and an overview of investment financing options. In addition to the current economic situation and a discussion on the EU and Turkey, the book also takes a look at the years before the economic crisis in 2001.

The authors Erdal Ekinci, senior manager at the tax consultancy Erdikler YMM in Istanbul, Dr. Angelo Rizzuti, head of the global Structured Trade and Export Finance department at UniCredit and Dr. Ahmet Süerdem, professor at the faculty for Economic and Administrative Sciences at Bilgi University in Istanbul contributed to the book. The guide Turkey – Profile of a Converging Economy was published in July 2007 by LexisNexis Verlag ARD Orac GmbH & Co KG, Vienna, and is also available in German (Wirtschaftspartner Türkei).

Further information:
Veronika Fischer-Rief
UniCredit Markets & Investment Banking
Public Relations
Tel.:  +43 (0)   50505 - 82833
veronika.fischer-rief@ba-ca.com

Dipl.-Jur. Richard Erdmann
LexisNexis Verlag ARD Orac GmbH & Co KG
Marketing Manager
Tel.:  +43 (0)1 53452 - 1725
Fax.: +43 (0)1 53452 - 148
richard.erdmann@lexisnexis.at