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Chairman’s message
For our country, 2010 was a year in which the economy was invigorated, progress was made in every sector, and hope was inspired about the future. We had a lively and successful year in both domestic and international markets. Having contracted by 4.8% in 2009, the Turkish economy grew by 8.9% in 2010. Factors such as a key strategic and geopolitical location, steadily developing relations with regional countries, high growth potential, and human resources all make our country one of the world’s rising stars today.
Nevertheless there also exist serious uncertainties and risks, especially at the global level: developments in the Middle East, the aftermath of the Arab Spring, events taking place in the eurozone, and the possibility of global recession are all issues on which we are keeping a close watch. It looks as if it will be difficult for the world economy even to regain its former growth figures in the wake of the global crisis much less sustain them.
In an environment in which the world economy is slowing down, the Turkish economy is at risk of doing the same. That risk puts three issues at the head of our current agenda: How do we minimize the impact that adverse external developments have on the Turkish economy? How do we increase competitive strength? And how do we make growth sustainable? As our country advances confidently towards its 2023 goals, it becomes essential to concentrate on R&D and innovation in every sector, to increase market diversity, and to take steps that will ensure that it is possible to achieve rapid, sound, and sustainable growth in the medium and long term.
In the process which I have just outlined, a number of very important responsibilities are incumbent upon the private sector. Inspired by our sense of enterprise and by our innovative and creative attitudes, we as the Zorlu Group continue to set sail towards ever new horizons. In that context, in the period ahead we will be accelerating our investments in what is an exciting new business line for our group: mining. Our goal is to have the rich deposits of nickel discovered in Manisa-Gördes and Eskiþehir operational by 2013.
We will also be focusing attention on our ongoing investments in other areas in which we are active as the Zorlu Group. At Zorlu Real Estate we have embarked upon the creation of works which will be remembered long into the future. We will also be continuing work on the Zorlu Center project, which we believe will further burnish Ýstanbul’s rising star, and on the Zorlu Levent project, which looks set to become recognized as one of the most striking examples of contemporary architecture.
Through the Zorlu Energy Group, we are a leading service provider in different aspects of energy–one of today’s most strategically important sectors. Our approach to our investments in this business line is informed by our belief that making use of renewable and locally-available resources to generate power is also an important way to create a cleaner world. Our geothermal (Denizli-Sarayköy), wind (Pakistan), natural gas conversion (Israel), and natural gas conversion (Russia) investments are among the projects which we will be carrying out in the period ahead with this conviction in mind.
At Vestel, whose world-class production standards and superior-quality products earn it a strong presence in the international arena, we will continue to invest in R&D and new models in order to deliver only the very best to our customers.
We are the Zorlu Group: A corporate group dedicated to increasing our country’s competitive strength in the sectors in which it is active and to taking our country forward into the future. At the same time, our vision also commits us to being a player which shapes markets not just at home but in the global arena as well. In keeping with this, we will also continue to make important progress towards becoming a global player thanks to our production, export, and employment strengths, to our ability to compete in world markets, and to our principle of delivering product and service quality at international standards.
Developments in technology and population growth pose serious threats to our world’s resources today. That in turn puts the sustainability of those resources as one of the most crucial items on the world’s agenda. As both one of Turkey’s leading holding companies and an organization with a global reach that extends throughout the world, Zorlu Holding clearly demonstrated its concerns about and approach to the issue of sustainability when it subscribed to the Global Compact back in 2007.
Conscientiousness and realistic planning on the economic, social, and environmental fronts lie at the heart of the Zorlu Group’s approach to sustainability. We engage in such efforts not simply as an adjunct of management but rather with a sense of mobilization that encompasses everyone from governance and management to employees, business partners, suppliers, and even customers.
Of course the Zorlu Group began reflecting the fundamental principles of the Global Compact in its own corporate values and business processes long before we ever actually signed the agreement. Since the day it was founded, our group has been taking the approach of being fair and accountable towards employees and everyone with whom it does business, of always making a disciplined effort to do better, and of being sensitive to the needs of community and country. The Zorlu Group’s dedication to the principles of good corporate citizenship, its environmentally-aware designed products, and its attitudes that regard employee satisfaction at the highest level and put employee rights in the fore are all the products of a corporate culture that extends over many decades. That is also the most important factor which distinguishes us and which ensures the sustainability of our success.
Periods of risk are also periods of opportunity. Today is a time when the world’s economy is fraught with serious risks and uncertainties; it is also a time when the Zorlu Group will continue to transform new developments around the world into opportunities, to be a leading force in our national economy, and to create value for our nation, our community, and our employees.
Ahmet Zorlu
Chairman of the Board of Directors
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