To reach the next economic level, countries must take several steps—including creating the conditions for increased private sector innovation and productivity growth. Turkey is a case in point. Its trade liberalization policies and reforms have brought it deeper into the global economy, enabling its companies to integrate into foreign production chains, expand trade, and create jobs.
IFC client Sisecam Group has become an internationally competitive glass industry leader. Created by Turkish Republic founder Ataturk in 1935 to meet Turkey’s own glass needs, it is now a truly global player—operating in 13 countries and exporting to 150. Sisecam operates flat glass, glassware, glass packaging, and chemicals businesses at 44 plants—18 local and 26 foreign. Nearly half its sales are exports.
IFC has been a longstanding partner in Sisecam’s transformation, supporting its international expansion and growth for more than 40 years. Our investments have helped Sisecam become a major exporter and kick-start new international operations in countries such as Russia, Bulgaria, Georgia, and Bosnia and Herzegovina. It now has more than 21,000 employees.
Read more: ifc.org/manufacturing
IFC has a $5 billion investment portfolio in Turkey, our second-largest country exposure.