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The Ukraine-Russia and Iran (US-Israel) conflicts have demonstrated that the world economy can no longer bear the burden of being managed by a single system. Multinational corporations have been seeking new avenues for the past decade, and this search has accelerated significantly due to recent events. Countries tied to various blocs in the fields of economy and security have inevitably begun searching for new paths, leading to a need for independent policies and new regional partnerships. Economic crises and wars worldwide have increased costs across the board, forcing many producers into bankruptcy or into seeking new production regions. New centers for low-cost production have been identified, shifting toward North Africa—which offers logistics advantages by bordering both the Atlantic and the Mediterranean—and partially toward Asia due to affordable labor.
In the current conjuncture, the strategic framework unilaterally dictated by major power centers has lost its credibility, signaling the end of the era of dominant powers. Governments of developing nations, as well as countries that possess wealth but lack population or global influence, have begun seeking ways to escape this vortex. Consequently, new quests for dominance or partnerships will emerge through energy and logistics corridors.
Logistics and energy corridors have become the most concrete areas of this grand transformation. While the Euro-Atlantic system is deconstructing, regional powers and partnerships are gaining prominence, and new connections are being established. Corridors will no longer be mere trade routes; they will become indispensable elements of the new world order.
In this process, despite the negative internal atmosphere, the Turkish state has long been rapidly progressing toward becoming a powerful service and trade hub for global companies through its strategy of establishing Istanbul as a financial center, supported by extensive construction and infrastructure. While multinational firms are being invited to Türkiye under new programs—though recent visits suggest such invitations are becoming unnecessary, as it is clear the Middle East can no longer carry this burden—they are being supported by comprehensive regulations and incentives. To attract the overseas operations of large global investors to Türkiye, the Qualified Service Center model is being implemented to provide incentives for foreign-sourced income.
The approaches within this model include:
Corporate Tax Exemptions: Within the scope of the Istanbul Financial Center (IFC), if companies move their operations to the IFC, their income derived from abroad will be completely and indefinitely exempt from corporate tax for 20 years.
Widespread Application: This exemption is not limited to the IFC district; even if multinational companies move their operation centers to a region outside the IFC, 95% of their foreign-sourced earnings will be exempt from corporate tax.
Eligibility Criteria: To benefit from these exemptions under the Qualified Service Center model, companies must operate in at least three different countries and derive at least 80% of their annual gross income from abroad.
At this juncture, our country has begun to struggle to break this cycle and stay ahead in the new era of change. Notably, the contribution of the Turkish state tradition and the business community in preparing for this new period is drawing significant attention. It is vital to support companies and organizations operating in the mining, defense industry, energy, food, and water resources sectors alongside the financial center strategy. This strategic mindset must be a fundamental responsibility for both individuals and our country regarding our present and future. Investors and employees alike must realize that production in our country is undergoing an evolution, and we must plan accordingly.
In conclusion, as I have stated in my previous articles, the same process continues. I hope for the best for our country.
