22 Chinese firms eye Türkiye following BYD investment
The CEO of Borch Machinery and President of the China Plastic Machine Manufacturers Association, Zhu Kangjian leads 22 Chinese firms attended at the Turkish Plastics Industry Congress, in Istanbul, Türkiye, Dec. 3, 2024. (Photo via ekonomim.com)
Some 22 Chinese companies are exploring investment opportunities in Türkiye, CEO of Borch Machinery and President of the China Plastic Machine Manufacturers Association Zhu Kangjian revealed Wednesday.
Zhu highlighted the influence of Chinese automotive manufacturer, BYD’s factory investment in the country, stating, “The idea that ‘If BYD is here, we should be too,’ is significant for us.”
Responding to economy-focused ekonomim.com at the Turkish Plastics Industry Congress, attended by 22 Chinese plastic processing machinery manufacturers, Zhu shared that the delegation included company owners and senior executives.
Zhu emphasized their primary objective was to explore market and investment opportunities in Türkiye, pointing out that the country’s strategic location offers a significant advantage for selling machinery to Europe and neighboring countries.
Zhu noted that BYD’s decision to invest in Türkiye was a motivating factor behind their visit. “A company as large as BYD surely conducted substantial research before making this decision and they deemed Türkiye suitable for investment, we believe we should also evaluate our options here,” Zhu explained.
Emphasizing concerns over Trump’s tariff plan targeting China, Borche mentioned that Chinese firms are prompted to seek alternative markets. “Although this is not the sole reason, it has contributed to our consideration of Türkiye. “During this visit, our priority is to assess whether the production infrastructure in Türkiye aligns with our needs,” Borche explained.
Chinese delegation focuses on large-scale production model
The Chinese delegation attending the 33rd Plast Eurasia Fair will also participate in various meetings, including the China-Türkiye Plastics Industry B2B Conference scheduled for tomorrow, which representatives from the Turkish Presidential Investment Office and the Chinese Consul General will also attend.
The conference will discuss opportunities for joint investments between the two countries. Turkish Plastics Industry Research, Development and Education Foundation (PAGEV) President Yavuz Eroglu stated that the discussions would focus on a “large-scale production model,” with an emphasis on transforming Türkiye into a regional hub for machinery and equipment production in the plastics sector.
The 22 companies considering investment in Türkiye have a combined annual revenue of approximately $20 billion. With the average investment for a plastic processing machinery manufacturing facility ranging between $50 million and $100 million, the establishment of new production facilities could represent a significant boost in foreign direct investment for Türkiye.
