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Unemployment set to Fall as Tesco Invests in Turkey

Posted on 15 October 2010

Tesco is happy with growth statistics from its Kipa chain of stores in Turkey, and will continue its investments the country’s retail sector, according to a spokesperson for the country. Tesco CEO and Operations Director Tony Hoggett, outlined new store concepts and future plans for Turkey.

“Turkey’s credit ratings are being upgraded every year and the country holds a central position in Tesco’s international growth strategy”, said Hoggett. CEO Paul Ritchie also stressed the country’s potential in the retail sector, and said that Tesco employed over 2,300 people in Turkey and will continue to grow with new investments.

All the headline growth statistics are brilliant, but it is great to see growth in investments like this; which provide employment to ordinary Turks, helping the economy to grow from grassroots levels (OMG, did I just turn into a Labour politician?).

As we all know, the main problem the Turkish economy and nation faces as it becomes a force of global reckoning is unemployment, thus we need announcements like this in order to turn the strong growth figures into employment on a grand scale.

We have also heard this week that Ford, the automobile company will be investing 630 million USD to expand and upgrade its Koacelli plant, and that fast food chain Hoons is planning an entrance into Turkey, creating 1000 jobs — every little helps :).

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