November 2025

In this month of November 2025, the Turkish economy is showing a resilience that is increasingly attracting international attention. According to the latest forecasts published in the European Commission’s autumn report, growth is expected to reach 3.4% in both 2025 and 2026, before accelerating to 4% in 2027.

This momentum is all the more significant in a context where macroeconomic challenges remain. Although the Central Bank has recently eased its rates, inflation remains high: according to the latest projections from the European Commission, inflation is expected to range between 31% and 33% for 2025 (compared with the previously forecast 25–29%).

Yet behind these macroeconomic figures lies a deeper transformation: Türkiye is reaffirming its role as a strategic hub for global technologies. The country continues to attract a significant number of international investors who are betting on its industrial, infrastructure, and innovation potential. This month again, several large-scale investments were announced (Uber, Daikin, Google, etc.), illustrating the confidence of foreign investors in today’s Türkiye.

One of November’s major highlights was undoubtedly the signing of a major agreement between the United Kingdom and Türkiye for the purchase of 20 Eurofighter Typhoon combat aircraft, valued at nearly USD 11 billion. This agreement marks a new milestone in the modernization of the Turkish Air Force: while awaiting the effective launch of its own 5th-generation fighter jet, KAAN, expected around 2030, the Eurofighters will serve as a strategic bridge. A special article dedicated to this acquisition is available in this edition, written by our Defence expert, Patrice MOYEUVRE.

Economic & business news from Türkiye

Türkiye Builds Its First High-Speed Train Factory

Abdulkadir Uraloğlu, Türkiye’s Minister of Transport and Infrastructure, announced the start of construction of the new national factory for the production and testing of high-speed electric trains, located within the TÜRASAŞ regional directorate in Sakarya.

Covering an area of 15,000 m², this strategic facility will mark a major milestone in the industrialization of Türkiye’s railway sector. It will manufacture the first national high-speed electric train, capable of reaching 225 km/h, as well as other models designed to strengthen the country’s technological autonomy.

The factory will have a production and testing capacity of 12 high-speed train sets. Developed entirely with national resources, the project is expected to create 250 direct jobs and generate an estimated annual contribution of 3.5 billion TL (≈70 million EUR) to the Turkish economy.

Earthworks and backfilling have already been completed, and the foundations will be laid once the soil improvement operations are finalized.

According to Minister Uraloğlu, this initiative will not only strengthen the country’s industrial and technological capacity but also enhance its independence in the railway sector, positioning Türkiye as a key player in sustainable and innovative mobility.

Source: Bigpara Hürriyet, 27 October 2025

Alstom Accelerates Its Industrial Development in Türkiye

Alstom is continuing its growth strategy in Türkiye by announcing a major investment aimed at increasing the production capacity of its Bursa plant, inaugurated in 2024, by 2.5 times. This investment will be accompanied by an increase in its workforce, which already comprises over 250 employees.

This decision reflects Alstom’s ambition to make Türkiye a true regional hub for railways. The country now occupies a central position in the group’s strategy for the AMECA region (Africa, Middle East, Central Asia), as emphasized by Martin Vaujour, President of this zone. According to him, Türkiye is much more than a market: it is a strategic pillar hosting the “core of Alstom’s engineering capabilities” in the region.

In addition, a Rail Innovation and Integration Laboratory is planned to open in 2026 in Istanbul to support national and regional projects.

Present in the country for over 70 years, Alstom has already equipped nearly 1,000 km of railway lines with signaling solutions and is positioning itself to respond to upcoming tenders. The group also works with more than 25 local suppliers, generating approximately EUR 50 million in annual volume for Türkiye’s industrial ecosystem. The value added from Türkiye is expected to reach EUR 100 million by the end of 2025.

In a context where Türkiye is accelerating its railway investments to achieve its 2053 Net Zero target, Alstom reaffirms its commitment to being a key player in this transformation and contributing to the country’s industrial development.

Source: Ekonomim, 24 October 2025

Uber Invests USD 200 Million in a Technology Hub in Istanbul

Uber has announced the creation of a global technology center in Istanbul, supported by a strategic investment of over USD 200 million over five years. This will be Uber’s fourth hub outside the United States, after Brazil, India, and the Netherlands.

The new hub, inaugurated in the presence of Türkiye’s Minister of Industry and Technology, Mehmet Fatih Kacir, President of the Presidential Investment Office, Ahmet Burak Dağlıoğlu, and Uber CEO Dara Khosrowshahi, will position Istanbul as a central player in the global development of mobility and delivery technologies.

Uber plans to employ 180 engineers, designers, and data scientists, including talent from its acquisition of Trendyol Go, and to expand partnerships with Turkish universities and technology institutions.

According to Dara Khosrowshahi, “the future of Uber’s innovation will be built in Türkiye.” This statement reflects the group’s confidence in the country’s technological and human potential, and more broadly in Türkiye’s dynamic tech ecosystem, which the government aims to position as a global hub for talent and startups.

Source: Anadolu Agency, 31 October 2025

Daikin Announces Major €100 Million Investment

The Japanese group Daikin, a global leader in climate engineering, has announced an investment of approximately EUR 100 million in Türkiye. This commitment is part of the group’s strategy to make Türkiye its regional production hub for Europe, the Middle East, and Africa.

Present in the country since 2011 following the acquisition of Airfel, Daikin has developed a large-scale factory in Hendek (Sakarya), producing more than one million air conditioners per year. This facility, now a major export center, allows Daikin Türkiye to report an estimated turnover of EUR 820 million in 2024, of which more than EUR 450 million comes from exports.

According to Daikin Türkiye’s management, several factors explain this investment decision:

• A strategic geographic location, facilitating access to European, African, and Gulf markets
• A skilled workforce with recognized technical expertise
• A robust industrial and logistics infrastructure
• A growing domestic market, with a climate solutions penetration rate still limited to 15–20%

This new investment aims to consolidate Türkiye’s role as a regional production and innovation platform for the group in a sector characterized by increasing demand for energy-efficient solutions.

Daikin’s initiative highlights the industrial attractiveness of Türkiye, which continues to establish itself as a strategic production and export hub within the Euro-Mediterranean region.

Source: Ekonomim, 5 November 2025

Turkcell Partners with Google Cloud to Make Türkiye a Regional Digital Hub

Turkcell, a leader in telecommunications and technology in Türkiye, has announced a major strategic partnership with Google Cloud. This collaboration aims to establish a new Google Cloud hub in Türkiye, representing a multi-year, large-scale investment to strengthen the country’s digital infrastructure and accelerate its digital transformation. Through this initiative, companies will gain direct access to Google Cloud’s high-performance services, including data analytics, cybersecurity, and artificial intelligence.

Turkcell will also integrate Google Cloud technologies into its own operations, becoming a trusted partner for distributing Google Cloud solutions to Turkish businesses. Vice President Cevdet Yılmaz hailed the partnership as a symbol of global confidence in the resilience and innovation capacity of Türkiye’s economy.

For Turkcell CEO Dr. Ali Taha Koç, this agreement goes beyond technology: it represents a strategic milestone for the country’s digital future. Turkcell plans to invest USD 1 billion in databases and cloud technologies to provide businesses with seamless access to Google Cloud’s cutting-edge solutions.

According to IDC, Türkiye’s public cloud market is expected to grow from USD 1.7 billion in 2024 to USD 4.2 billion in 2029, representing an average annual growth rate of 20%.

Source: Business Wire, 12 November 2025

EngageLab Invests in a Data Center in Istanbul

EngageLab, a Singapore-based company and global leader in AI-powered omnichannel customer engagement technologies, continues its international expansion with the opening of a new data center in Istanbul for its EngageLab Email solution. This strategic facility strengthens its global “dual data center + multi-node” network, already present in Singapore, Frankfurt, Los Angeles, Silicon Valley, Mumbai, Hong Kong, Shanghai, and other key hubs.

With this data center, EngageLab now offers:

• Full compliance with Türkiye’s data localization requirements
• Significant latency reduction, ensuring faster and more stable email delivery
• Improved email reputation, supported by the use of local IPs

Already recognized as a comprehensive email marketing and communication platform, EngageLab now processes hundreds of millions of emails daily, with an average delivery time of three seconds, supporting over 1,000 companies in 220 countries and regions.

With this investment, EngageLab consolidates its ability to support businesses seeking performance and reliability in their digital communications.

Source: Yahoo Finance, 11 November 2025

Chinese Company Goldwind Localizes Blade Production in Izmir

Chinese wind turbine manufacturer Goldwind is taking a new strategic step by announcing, in partnership with Dere Construction, the local production of wind turbine blades in İzmir. The new industrial site will cover over 200,000 m², including 30,000 m² of main buildings, and is scheduled to become operational in 2027. The project is expected to create over 500 local jobs.

Present in the country since 2016, Goldwind continues an ambitious localization strategy covering key components of its turbines – towers, generators, and now blades. The company already reports 88% local employees, 400 MW of commissioned wind farms, and a portfolio of 420 MW currently under construction.

According to Alper Kalaycı, Head of Localization and Supply Chain, this new factory represents a major milestone for ensuring compliance with YEKA local content requirements, securing the national supply chain, and consolidating Goldwind’s industrial presence in Türkiye. The site will directly contribute to Türkiye’s energy transition goals by 2035.

By localizing key components, Goldwind confirms its long-term strategy to support the growth of renewable energy in Türkiye.

Source: Dünya, 17 November 2025

TeamSystem Completes Two Strategic Acquisitions

TeamSystem, a major Italian player in digital technologies and artificial intelligence, continues its international expansion in Türkiye. Its subsidiary Mikrogrup has acquired Bizim Hesap, a cloud platform for pre-accounting and business management for SMEs, as well as a minority stake in Nef Solution, a fintech specializing in financial risk management and compliance.

Founded in 2013 in Istanbul, Bizim Hesap serves over 40,000 SME clients and offers a comprehensive suite of solutions, including electronic invoicing, inventory management, e-commerce, virtual POS, and fuel management. The founders, Mehmet Çelik and Barış İnalpolat, will continue to lead the company to ensure operational continuity and product development.

Nef Solution, founded in 2021, develops AI solutions dedicated to risk management and compliance and already collaborates with #modefinance, another TeamSystem group company, on joint projects.

These acquisitions consolidate TeamSystem’s strategy: supporting companies in their digital transformation through innovative technologies based on cloud, SaaS, and artificial intelligence.

With over 5,000 employees, 2.5 million clients, and EUR 1 billion in revenue in 2024 (+19%), TeamSystem confirms its position as a European leader in digital solutions for businesses and professionals.

Source: Finsmes, 4 November 2025

MySky Acquires the FTL Platform from Turkish Company Safejets

Swiss company MySky has announced the acquisition of SAFEJETS’ FTL platform, a solution recognized for its advanced capabilities in crew management, flight planning, and duty time tracking. The platform is a leader in Türkiye, with over 130 aircraft users and a 90% market share.

MySky plans to enhance the platform with new features and additional integrations, while ensuring full continuity for existing clients. The founder of SAFEJETS, Tevfik Uyar, will continue to support the project to ensure a smooth transition.

With this acquisition, MySky now manages over 1,500 aircraft under subscription worldwide. According to Kiril Kim, CEO of MySky, this initiative goes far beyond planning:

“We want to provide operators with fully integrated tools for cost control, budgeting, quotes, and much more.”

Following its successful expansion in the United Arab Emirates, this move into Türkiye strengthens MySky’s position as a strategic gateway between Europe and Asia.

Source: Corporate Jet Investor, 13 November 2025

Tax Competitiveness: Türkiye Rises into the Top Tier of OECD Economies

According to the 2025 International Tax Competitiveness Index by the Tax Foundation, Türkiye ranks 12th out of 38 OECD countries with an overall score of 75.9, confirming its position in the global top tier.

• 5th for personal income tax
• 8th for cross-border rules
• 17th for consumption taxation
• 21st for corporate income tax
• 24th for property taxes

Türkiye clearly outperforms the majority of Western European countries (France 38th, Italy 37th, Spain 34th, Belgium 30th, United Kingdom 32nd) and approaches the most competitive countries on the continent, such as Estonia, Switzerland, and Lithuania.

This ranking reflects an attractive and competitive tax system, modern and flexible cross-border rules, and a balanced fiscal structure compared with other OECD economies.

In other words, Türkiye positions itself as a competitive tax platform at the heart of the EMEA region, offering a stable environment for foreign businesses while remaining open to international investment flows.

Source: Tax Foundation, November 2025

Turks Crowned European Champions in Statistics

The TURKSTAT-DATG team, composed of experts from Türkiye’s National Statistical Institute (TÜIK), dominated the European Nowcasting Competition on International Trade, organized by Eurostat, winning 8 first-place awards and one second-place award across 9 categories.

The TURKSTAT-DATG team thus outperformed 35 teams and 66 participants from 17 countries.

This prestigious competition, part of the European Statistics Awards program, challenges teams to accurately forecast key international trade statistics in near real-time. The objective is to quickly track trends, support trade policy assessment, and analyze global economic impacts.

Outstanding results by TÜIK:

• Exports and imports outside the EU: 1st in accuracy, reproducibility, and innovation
• Exports to the EU: 1st in reproducibility and innovation

By winning nearly all categories, the TURKSTAT-DATG team has demonstrated Türkiye’s excellence and innovation in statistics applied to international trade.

Source: Eurostat, 13 November 2025