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Economy

Eastern Black Sea Region consists of six provinces which are Artvin, Giresun, Gümüþhane, Ordu, Rize, and Trabzon. The population of the region is 2.526.619 that is 4.62% of the total Turkish population. The 66% of population of the region is active population that contributes to economy. There are one private and six state universities in the region with 3.290 academicians and 68.064 university students.

The Region, being at the intersection point of three continents, lies as a bridge between east and west. This characteristic offers advantages for transportation and logistics sectors. In addition to these, tourism, agriculture, food, mining, ship construction and fishery sectors are the prominent sectors that offer many investment opportunities. Such regional dynamics make the region an economic attraction center for new investments. Moreover, incentives that are provided by Turkish State ease and accelerate investments.

There is an extensive and a well developed regional motorway network offering several highway connections to foreign countries. From Eastern Black Sea it is possible to reach several regions and countries such as Caucaus, Central Asia and Ýran by land transport. Despite the Region's high potential for seaway transportation, current usage is still low. However, with the recent investment which have been made to existing ports and the shipyard being built maritime connections and sea trade are expected to increase siginficantly, within a short periof of time. Total number of active seaports and piers of the region is 12 and which the total capacity is 15 million tones/year. Besides, two railway projects will provide a cheap and safe transport mean for the local production to current foreign markets from Eastern Black Sea.

Eastern Black Sea has a very special position within Turkey through its warm climate, mountains, wide forests and glorious nature. Its peculiar characteristics creates possibilities for alternative tourism types, like water tourism, health and congress tourism, eco-tourism, winter tourism, nature sports, and so on. Currently, 4 million domestic and foreign tourists visit the Region annually, however when it is supported with new investments, the number of visitors is expected to increase.

The Region possesses rich land mines. Total economic value of 72 types of metallic minerals, 33 industrial raw-materials and energy beds are accounted as 100 billion dollar. Mining sector; including mainly gold, silver, copper, zinc, lead and so on, attracts attention as a potential investment area. The recent data of goods exported from Eastern Black Sea indicates that the trade in this sector is increasing much faster than any other sector with the new investments already made for silver and gold extraction.

Owing to its mountainous characteristic and high amount of rainfall, the potential of hydroelectric power plants is significant in electricity production. Currently total number of active, under construction and projected power plants in the region is targeted to reach 403, and total amount of energy production, 21.015,85 GWh/year corresponding to 12,4% of Turkey's total electricity requirement. Considering such a world in which there is rapidly increasing sensitivity to the environmental protection, and the return of profit from Hydro Electric Power Plants it can be understood how it is important to invest to this sector.

The mountainous character limits agricultural facilities; nevertheless, the Region's peculiar climate serves the conditions for high added-value agricultural production. The sector is dominated mainly by the production of hazelnut, tea and kiwi, which needs special air conditions. However, organic agriculture that is gaining importance day by day is a good alternative investment area thus, welcomes all interested investors.  The region is number 1 producer of world in nut production and the sole area producing entire amount of tea consumed in Turkey.

In Eastern Black Sea Region, inherent maritime culture has turned fishery out to be a large sector. Half of the total amount of caught fishes in Turkey belongs to Black Sea Region. Today, in Turkey fishery production is a popular them of investments. Moreover, state incentives directed to this sector draws investors' attentions. Especially, the integrated investments with all necessary cold chain to process caught and produced fish has a promising future.

Developing infrastructure combining with young and educated population supported by significant incentives in many sectors provided by Turkish State Eastern Black Sea offers significant opportunities for investors. After all this brief information about regional properties and sectorial features, Eastern Black Sea Region is ready to welcome you all with great pleasure.