Manufacturing industry sector, which is the most important economic activity for the development of the country, has become a part of increasing global competition in the world.
As European countries and developed countries such especially as USA and Japan use effective science and technology policies, they remain in the forefront in high tech production sector with more profit margin by providing quality labour force.
On the other hand, countries as China and India that has low-cost labour force and other factors decreasing the costs are developing in low-tech production sector by using foreign capital investors and continue their studies to enter the high-tech production sector.
Sector Status in TRNC
Such factors as lack of raw materials and energy sources, nonexistence of enough markets, transportation difficulties, undercapitalization, and lack of qualified employees due to economic embargos placed in the past have prevented development of agriculture sector.
Today, the import coverage rate of 120 million dollar export share is 6% and due to this, it leads to a great current deficit in the country. With the occasion of island’s geographical position and natural gas determined lately, it is expected to affect the industry sector in TRNC in the near future potentially.
In regard to economic and natural structure of TRNC, the majority of small and medium sized enterprises consist of family business. Industrial activities in the country are developed in light industry environments which has broad consumption share and pays the first investment quicker.
Besides the products required by tourism, production areas on food and beverages, tobacco, forestry products, furniture and production related to stones and soil are also developed as raw materials of these can be provided within the country.
Other branches of industry are not economical as they are imported abroad and subject to duties and have made less progress in comparison to mentioned branches of industry.
How can we help as GRS?
We work continuously to provide better services to our customers by conducting a market research on production, cost management, energy use and quality control from the four corners of the world.
As an international company, Saydam & Co. regularly analyzes the status of domestic markets and markets abroad and gives consultancy services on different market opportunities to its customers in sector of industrial production.
If you want to upgrade the labour force to the maximum level by using maximum technology and background information and want to be ready for worldwide exportation with effective cost management system integrated with modern world countries, then you should work with Saydam & Co.