12 reasons to be hopeful

There is a great uncertainty on a global level. Developments in the Middle East, the problems in the Euro zone and the possibility of a global recession are reasons for the entire world looking at 2012 with concern. But the Turkish business world is not pessimistic. Indeed, most of the representatives of the business community list a lot of reasons to be look at 2012 with hope.
Foreign capital inflow will accelerate
One of the most widespread expectations for 2012 is that Turkey will be a safe harbor. Boyner Holding Board Chair Cem Boyner says: "There could be a significant inflow of foreign capital in 2012." Zorlu Holding Board Chair Ahmet Nazif Zorlu also says that he expects Turkey to grow by 3-4 percent in 2012 and to attract the world's attention.

New opportunıties will appear
It looks as though there will be new investment opportunities for Turkish companies in 2012. Many companies are expecting the New Year to bring them new opportunities. Doğan Holding Deputy Board Chair Yahya Üzdiyen says that 2012 will be a year of growth for them and adds: "We are continuing to look for alternative fields for investments. The crisis will bring us new opportunities."

Competiveness will increase
The turbulence on foreign markets has brought Turkey's competitiveness to the fore. Yeşim Tekstil CEO Şenol Şankaya says that, as a result of the crisis in Europe, the ready-wear and clothing sector has begun to receive more short-term orders. Vestel Board Chair Ömer Yüngül says that many producers will have to cut back on production as a result of low demand and price pressure.

Investment needed!
The need for investment in many sectors will drive the growth of sectors in 2012. GAMA Holding Board Chair Ergil Ersü says that investments will continue at full speed in 2012. It is a similar picture in aviation... TAV Airport Investments and Business Development Director Serkan Kaplan says that the continuation of the increasing corrections in the aviation sector over the last two years is the reason that he is hopeful about 2012.

Large appetite in foodstuffs
Companies in the foodstuffs sector are entering the New Year much more comfortably than many other sectors. Esas Holding Foodstuffs Group President Babür Çelebi believes that the market will continue to grow in the New Year. "We have a large domestic market," says Çelebi and lists the factors growing the market as a young population, a rise in income levels and an increase in private expenditure. TAB Foodstuffs CEO Caner Dikici is of the same opinion about growth.

Margins will be corrected
The basic performance indicators in refining are changes in the refinery margins. Tüpraş General Manager Yavuz Erkut forecasts that developments which have a negative effect on refinery margins and which are not based on real prices will disappear in 2012. There are also expectations of a correction in margins in the insurance sector. Officials from Anadolu Sigorta hope that the Turkish insurance sector will achieve healthy growth as a result of the legal amendments that will be implemented in 2012.~

A less chaotic year
The increasing confidence in the financial sector is the reason that the Turkish business community is becoming more optimistic in their growth plans. Garanti Bankası General Manager Ergün Özen expects 2012 to be a less chaotic year than 2011 for the banking sector. Özen says: "Banking will continue to be one of the most important elements in the development of Turkish industry and the Turkish economy."

Driving innovations
Those who are preparing to make their mark on consumption with innovative applications are more optimistic about growth in the New Year. Doğtaş Board Chair Davut Doğan believes that this year the Turkish economy will grow by 3 percent and that the furniture sector will grow by 8-10 percent. The white goods sector is also expected to grow more than the economy as a whole. Electrolux Türkiye General Manager Figen Gözübüyük says that the New Year will bring growth and innovative, environmentally friendly products.

CEM BOYNER
BOYNER HOLDING BOARD CHAIR
"WE CAN TURN THE SITUATION TO OUR ADVANTAGE"
"More conservative growth forecasts are being made for 2012. But Turkey has really grown very fast. This slowdown does not mean that growth will stop. It is impossible for those of us who are in the retail sector not to be affected by these economic developments. But the good news is that we can foresee any crisis that may occur and are ready for it. We have both time and very valuable experience."

AHMET NAZİF ZORLU
ZORLU HOLDING BOARD CHAIR
"WE SHALL ENHANCE OUR IMAGE"
"We have a strong banking system. We shall continue to exercise financial discipline. The slowdown in growth will at least result in a partial contraction in our current account deficit. Consumer confidence is still high. Domestic demand will decline but continue. Developed countries will have to make do with growth rates of 0-2 percent while we shall be able to grow by 3-4 percent. Interest in Turkey will increase. There will be a global contraction in 2012 but we shall be able to have a soft landing."

ZİYA AKKURT
AKBANK GENERAL MANAGER
"THERE IS NO LIQUIDITY PROBLEM"
"The Turkish banking system continues to function in a regulated and disciplined manner. Our sector has a strong capital adequacy ratio of 16.6 percent. There is no liquidity problem. Credit utilization is low. The Turkish banking sector offers important growth opportunities in basic banking products and profitable, valuable Turkish banks will continue to attract the attention of foreigners even in the turbulent times in which we are currently living."