Little damage to businesses in Turkey during the Corona pandemic

المقاولات في تركيا خلال جائحة كورونا

Contracting in Turkey was slightly affected compared to the rest of the sectors in Turkey, and local housing loan support activities contributed, In providing a quick recovery to the contracting sector in Turkey after the outbreak of the new Corona virus, And recording positive growth figures in the third quarter of the year 2020.

Little damage to contracting in Turkey during Corona

At a time when the global economy is suffering from multiple crises and huge losses due to the Corona virus pandemic, Turkey was slightly affected by these losses, including the contracting sector in Turkey, which was affected less than other sectors.

At a time when economic expectations and global fears had a negative impact on the real estate market around the world, The Turkish government has taken a number of measures, With the aim of reducing the risks arising from the Corona crisis on the contracting industry in Turkey, Overcome it with minimal damage.

The construction sector in Turkey

The construction sector in Turkey contributes to the growth of the Turkish economy by 6.4% of the total Turkish economy.

Medhat Yenikon said, President of the Contractors Union of Turkey, To the Turkish Anadolu Agency, through which he expressed his concerns regarding the growth in the global economy, Concerned about the frequent fluctuations in the prices of political goods, In addition to the political risks, Which negatively affected the construction market in the world.

And Yenikon explained about the huge fluctuations in the construction industry at the global level, Due to the spread of the Corona virus that swept the countries of the world, Which had repercussions on the global economy.

It is worth noting that the damages and fluctuations in the construction industry at the global level, cast a shadow over the construction industry in Turkey, which suffered many damages in the local real estate market, Due to the outbreak of the Corona pandemic.

Yenikon emphasized that although the contracting industry in Turkey has the third largest volume of projects around the world, However, there is a slowdown in the implementation of projects, some of which have actually stopped, Because of the additional costs and obstacles created by the pandemic.

In order to boost the Turkish economy, Raising the level of the construction industry in Turkey and the renaissance of the contracting industry in Turkey, Unicon praised the local housing loan support activities, which contributed to the rapid recovery of this vital sector, By minimizing the effects of stagnation, And recording positive growth figures in the third quarter of the year 2020.

Yenikon said: “There is a recovery in some areas of the sector, Because of the affordable and low-cost housing loan campaigns, Those loans contributed to deflation, enabling the economy to register a growth of 6.4 percent, in the third quarter of the year 2020.

Yenikon is optimistic about the current year 2021, referring to the reform processes carried out in many areas by the Turkish government

He added: That “despite the ongoing uncertainty about the pandemic, We look forward to 2021 with great hope, attach great importance to the reform process, announced by our government in the fields of law and economics, We support steps that will contribute to the development of our country.”

And after amending the executive regulations related to the ownership laws in Turkey and Turkish citizenship, Which gave investors the opportunity to obtain Turkish citizenship, In return for the purchase of real estate worth 250 thousand dollars, Real estate in Turkey in general, Residential real estate in particular is a revolution in domestic and foreign demands.

The volume of contracting projects in Turkey

And the Turkish Ministry of Trade published about the volume of contracting projects in Turkey, Where Turkish contractors are working on the implementation of 175 projects outside the country, As of last November, With a total value of $10.4 billion.

Following Yenikon on the figures and data issued by the Turkish Ministry of Trade, saying: While the total volume of projects implemented in 127 countries since 1972, about $413 billion, There are expectations that the global economy will transition to a growth stage during 2021. Accordingly, we expect that Turkish contractors will play an important role in this growth.”

Commenting on the annual volume of foreign projects for the Turkish contracting sector, Yenikun added: “We are trying to overcome the effects of the Corona crisis, and the uncertainty that grips global markets, We also continue to work outside the country in order to reach the level of 20 billion dollars, As an annual volume of external projects, and protecting the status of the Turkish contracting sector.

And Nikon noted that there are many giant projects that have been implemented on the lands of Libya and the Arab Gulf states for many years, In turn, the Turkish diplomacy continues to make the necessary contacts, In order to solve the existing problems in those markets.

The meeting, which brought together Turkish businessmen, With Iraqi Prime Minister Mustafa Al-Kadhimi, In the capital, Ankara, On December 17, 2020, An appropriate opportunity to express future ideas, that pertain to the work of Turkish contracting companies.

In another context, The head of the Contractors Union revealed, that the Turkish contractors will play an active role in the reconstruction of the Azerbaijani “Karabakh” region, After the devastation, Because of the battles with Armenia.

After Ankara stood by Azerbaijan in its conflict with Armenia, Turkish-Azerbaijani relations witnessed their best ever, Accordingly, to contribute to the economy of Azerbaijan, It will be a priority for the Turkish Federation next year.

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