Survey: New investments to wane in 2015

A majority of Turkish industrialists plan to make no new investments in 2015, a recent survey carried out by the Aegean Region Chamber of Industry (EBSO) has revealed. Following a fall in turnover and profit volume in 2014 compared to a year before, only 21 percent of EBSO members are poised to undertake new investments in 2015.

A total of 33 percent of those polled plan to move to a capacity increase, and just 30 percent are considering modernizing their

A majority of Turkish industrialists plan to make no new investments in 2015, a recent survey carried out by the Aegean Region Chamber of Industry (EBSO) has revealed.

Following a fall in turnover and profit volume in 2014 compared to a year before, only 21 percent of EBSO members are poised to undertake new investments in 2015.

A total of 33 percent of those polled plan to move to a capacity increase, and just 30 percent are considering modernizing their existing facilities.

The survey shows that businessmen are cautious due to uncertainty in the current business climate, with 41 percent of respondents ready to decrease costs of production.

While 22 percent of those polled may head to new foreign markets, 18 percent of businessmen said they will pursue new strategies to enhance their presence in the domestic market.

When asked about their performance in 2014, 33 percent of the respondents said turnover and profits fell last year While 32 percent saw a turnover increase with less profit, only 24 percent of respondents said both turnover and profit grew last year

Commenting on the results of the survey, the chairman of EBSO, Ender YorgancIlar, said industrialists have set their sights on decreasing costs, expanding into new markets and developing new tactics to increase domestic sales for 2015.

YorgancIlar also highlighted that 54 percent of businessmen replied positively to a question asking if they had debt in a foreign currency. He maintained that Turkey needs to improve export unit value so that it can reach higher profits with less production.

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SOURCE: Today’s Zaman