Deputy Minister of Trade Ağar: Turkey ranks second in the world in terms of the most active contracting companies

The “International Contracting and Finance Summit,” organized by the MUSIAD Construction and Building Materials Sector Board and the International Economic Relations Commission, where important issues regarding the future of the international contracting sector are discussed and key players in the sector come together, began at the MUSIAD Headquarters.

During the opening of the summit, Ağar discussed the importance of the international contracting sector and explained how the summit would shed light on the future of the sector.

Highlighting the close collaboration of the ministry with the international contracting sector and emphasizing its significant role in foreign trade, Ağar mentioned the positive effects of the foreign contracting sector, such as its direct contribution to service income and foreign exchange inflows to the country through labor income.

Ağar continued his words:

“The Turkish contracting sector has become a global brand in its 50-year international adventure, gaining the trust of the whole world with the projects it has undertaken and achieving numerous successes. Many of these successes have been achieved through hard work under very difficult conditions. Currently, Turkey ranks second after China in the list of the top 250 contracting companies globally, with 40 companies. We currently hold a share of about 4.5% in the global market.”

Özgür Volkan Ağar emphasized that the Turkish contracting sector has maintained its successful performance despite political and economic fluctuations worldwide, stating, “Our foreign contracting sector increased the total project value from $20 billion in 2022 to approximately $28 billion in 2023. The total number of projects undertaken from the past to the present has exceeded 12,000, and the total value of the projects undertaken has reached $507 billion.”

Drawing attention to Turkey’s leading position in the production and export of construction materials, Ağar stated that the success of the contracting sector abroad has also significantly boosted Turkish construction materials.

Ağar noted that the annual business volume undertaken by Turkish contractors abroad has remained steadily above $20 billion since 2006, stating, “Our goal should be to increase this figure to over $30 billion in the medium term and to maintain stability at this level.”

Ağar expressed that they are always with the sector representatives in providing the necessary conditions to open the way for companies in the current global conjuncture, stating that the credit facilities provided by the Turkish Eximbank have shown significant progress in recent years.

“We continue our cooperation for collaboration in third countries” Deputy Minister of Trade Ağar stated that the role of the Turkish Eximbank in foreign contracting services is increasing day by day, concluding his words as follows:

“We are intensifying our cooperation with financially strong countries to expand our financing options. We continue our joint organizations aimed at cooperation in third countries without slowing down. We aim to further improve our cooperation efforts with Japan and the UK. Similarly, we continue our efforts at the country level for collaborations in third countries with companies from countries with high financing opportunities.”

“Approximately $452 billion of the total of $502 billion was generated in the last 21 years” Mahmut Asmalı, Chairman of MUSIAD, stated that at the summit, they would bring together important stakeholders not only to achieve a more effective position for the Turkish contracting and construction sector internationally but also to comprehensively address the fundamental elements critical for the implementation of international projects.

Asmalı mentioned that Turkey has made a great leap in the construction sector in recent years, saying, “While the foreign contracting sector closed the year 2023 with a project value of $27.4 billion, the total value of the projects undertaken by our country in the construction sector in 135 countries since 1972 has reached approximately $502 billion.”

Asmalı pointed out that the value of half a trillion dollars produced with a total of 12,071 projects over a period of more than 50 years indicates Turkey’s pioneering position in this field, stating, “The fact that approximately $452 billion of this total of $502 billion was generated in the last 21 years highlights the recent breakthroughs in the foreign contracting sector.”

Asmalı reminded that Turkey has been one of the largest actors in the sector for many years by being listed with 40-45 companies in the list of the largest 250 contracting firms of ENR Magazine, and he stated that they would brainstorm at the summit on how to increase Turkey’s market share and exchange ideas.

“We will benefit from advanced technologies and strategic partnerships” Fahrettin Oylum, Chairman of the MUSIAD International Relations Commission, said that they came together at the summit to emphasize the importance of cooperation among the four main actors vital for success in international contracting.

Oylum stated that by bringing together the main components of the sector, significant steps can be taken in the field of international contracting, saying, “Careful collaboration among actors is crucial for the successful implementation of projects, ensuring productivity, quality, and long-term sustainability.”

Oylum said, “We are ready to become a pioneer in the global contracting sector, creating a future full of sustainable growth and excellence by benefiting from advanced technologies and strategic partnerships.”

source: prepared by Melisa Beğiç

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