Politics is the art of what is possible and Turkey will experience what is in the realm of possibilities in the historic referendum set to take place on 16th of April.
As the centenary of the Turkish Republic approaches in 2023, Turkey is shaken by developments that are changing the face of the country significantly: a failed coup and an ensuing crackdown, a resurging domestic conflict, and a war at its borders. This all comes at a time when Turkey’s relations with the West are more strained than they have been in many years.
Regardless of the outcome, this referendum will shape political landscape in Turkey in a profound way that nothing will be the same again in many aspects, including international business.
In Referendum 2017 Special Report, we discuss the effects of the proposed referendum on foreign companies operating in Turkey to shed light on some critical questions for international business:
- Are there specific actions that foreign companies need to consider ahead of the referendum or be prepared to implement in the aftermath?
- Assuming the referendum is passed, how will the government’s decision making process changes in relation to government let tenders and contracts for companies?
- Will anything in the proposed constitutional changes directly affect the bidding/proposal process for their government contracts?
- What are the expected major structural changes to the government and how will this change the flow of communications, decision making centers, and engagement strategies for companies?
- What are the near and midterm goals of this referendum and how will it benefit Turkey?
- Will this change in governmental system materially improve the investor confidence in Turkey by addressing, political risk, security risk, and key economic concerns like inflation, unemployment, and currency risk?
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For every actor in business world, there are some controllable factors and uncontrollable factors that can create a huge difference in their very existence. The transition Turkey has been going through tops the list of the most significant uncontrollable factors in recent memory as it seems irreversible in many aspects.
Referendum 2017 Special Report, especially when digested together with our Turkey Outlook 2017 Special Report is the ultimate guide for foreign companies operating in Turkey.
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