TURKISH COMPANIES IN UKRAINE

There are around 600 Turkish companies in Ukraine. They mainly operate in clothing retail, telecommunications, aviation, logistics, construction, wood products and food. However, in contrast to our investments in some other countries, Turkish companies are not clustered in only a few sectors and they exist in different sectors such as machinery, health, energy and cosmetics in Ukraine. Turkcell is one of the three largest mobile phone operators in the country. Turkish Airlines is the largest foreign airline in Ukraine. If we count Atlasglobal, Pegasus and Ukraine’s own flag carrier, there are more than 100 scheduled flights between Istanbul and seven different cities of Ukraine.
The largest stadium of Ukraine, the main terminal building of Borispol Airport, which connects the capital Kiev to the world, numerous 5-star hotels, business center, hundreds of kilometers of highways were built by Turkish construction companies. A Turkish company recently won the tender for Dnipro-petrovsk metro. Güriş Energy started construction of one of the biggest wind power plants in the country. While Turkish contractors have made more than $ 5 billion commitments in Ukraine so far, the amount of direct Turkish investments in the country has exceeded $ 2 billion. Ukraine is the world’s number one in sunflower and sunflower oil exports, with 25% of the world reserves of the most fertile, valuable soil, black soil (cernosis) and one third of the arable land of Europe. Wheat, barley, corn, oats in the export of products such as the world’s top 5 countries. Therefore, agriculture has great potential. Ukraine is generally a raw material exporter, investing both in direct agriculture and in areas that process these products and generate added value.
Ukraine, which is the 5th most certified IT specialist in the world, is also the country where most engineering graduates are given annually in Europe. Energy, IT, agriculture and real estate sectors are eligible for investment. In addition, a radical privatization process will begin for almost 2000 state enterprises, including ports, electricity generation and distribution companies, agricultural enterprises, mines and chemical plants. It is important that Turkish companies follow this process closely.
The minimum wage in Ukraine is 65.9 dollars and in our country it is about 420 dollars. Of course, none of us would want capital outflow from our country, but if our companies in areas that have completely lost their competitive advantage at this minimum wage level, if they have had to leave the country, Ukraine is an attractive option with a free trade agreement with the EU and a land border with four EU countries. In particular, Turkey – signing of Ukraine Free Trade Agreement, from Turkey, serves as an important catalyst in the increase of direct investments in Ukraine.
According to the data of the Turkish Contractors Association, Turkish companies in Ukraine have successfully completed around 200 projects with a total amount of 6 billion dollars. With this number, Turkish companies are the largest foreign contractors in Ukraine in terms of the completed work. Onur is the biggest Turkish employer in Ukraine with 4 thousand employees and produces in 5 different factories besides construction. He also has investments in tourism and agricultural sectors in Ukraine. Onur Çetinceviz, the founder of the company, who has signed many works for modern Ukraine, is also the recipient of the Ukrainian State Distinguished Service Medal. In short, the success of companies such as Onur is a refrance for Turkish contractors.
If you also have an interest in the region Conexio Consulting will be helping you with your investments in the country.