Turkish production to compete better in the next five years

Turkish production to compete better in the next five years

ISTANBUL - Hürriyet Daily News
Turkey’s competitiveness in global manufacturing will rise in the next five years, according to the “Global Manufacturing Competitiveness Index [GMCI] 2013 Report” released by Deloitte. 

Turkey, currently ranked 20th, is expected to rise to the 16th spot in the next five years, according to the country manufacturing competitiveness index ranking.

“Turkey will become Europe’s second most competitive manufacture center, after Germany, in the next five years,” Deloitte Turkey Global Manufacturing Country Leader Gaye Şentürk said. 

The report prepared by Deloitte and the U.S Council on Competitiveness gathered data from more than 550 CEOs and senior manufacturing leaders in 2012 to better understand the trends creating a hypercompetitive global manufacturing environment.

Şentürk said Turkey had this success due to its educated, qualified labor force, university-industry cooperation, investments in technological infrastructure, the banking sector’s support of industry, efficient planning of incentives for investments, new regulations on trade and its tax law. “We will witness to Turkey’s rise in the next 10 years,” she added.

However, China was again ranked the most competitive manufacturing nation in the world today of the 38 countries ranked by executives, as it was in 2010, and it was predicted to be most competitive five years from now. 

“Five years from now, emerging economy nations surge to occupy the top three spots, with China retaining the top spot, and India and Brazil moving up to claim the second and third rankings, respectively,” the report said. 

Brazil’s jump from eighth to third is the largest jump expected over the next five years. Vietnam has moved into the top 10 as the 10th most competitive nation. 

“Five developed economy nations were ranked in the top 10 today: Germany (ranked 
second), the U.S. (third), South Korea (fifth), Canada (seventh) and Japan (tenth)” the report said.