Israeli firm sails through hard times
Güncelleme Tarihi:
by Ekrem Ekici
Oluşturulma Tarihi: Ocak 10, 2009 00:00
Israel-based TASCStrategic Consulting is continuing its activities as always, despite the rising tension in Turkey against Israel over the assault in Gaza. Country manager David Vaaknin says companies on both sides enjoy strong relations
Despite rising tensions in Turkey and throughout the Middle East over Israel’s assault on the Gaza Strip, the representative to Turkey for a top Israeli company said he continued to feel at home in Turkey.
The Turkish and Israeli people have a lot in common, David Vaaknin, country manager of Israel-based TASC Strategic Consulting in Turkey, told Hürriyet Daily News & Economic Review in Istanbul last week. "We are both Mediterraneans and do not like to be confined by strict rules," Vaaknin said. "I feel at home in Turkey."
As he spoke, the death toll in Gaza Strip was climbing to over 500, infuriating public opinion in Turkey. TASC Strategic Consulting specializes in energy, water, telecommunication, financial services, consumer goods and transportation, advising leading corporations and regulators on a wide range of strategic, economic and financial issues. After opening its Turkey office in May 2008, the company has focused on consulting for utilities, energy, transportation and communication here. Renewable energy constitutes the primary focus of the Israeli company.
Strong ties inspire confidence
Operating in Turkey in such tense times would likely create political pressure on the firm. However, Vaaknin said established political and economic relations and a healthy dialogue between the sides helped create confidence.
"Part of the reason why we are here is the fact that there are plenty of Israeli companies operating in Turkey," said Vaaknin, who studied philosophy at university. "There are Israeli-Turkish joint ventures in important sectors, such as tourism, water technologies and defense.
"Moreover, there are established and good relations between the two governments. For example, Turkey mediated the negotiations between Syria and Israel in recent months and that was a very good move for the entire region," he said.
Responding to a question on whether the ongoing conflict affected the operations of the company in Turkey, Vaaknin said, "Not at all, so far. No one has called us and asked to cancel any ongoing projects."
Nevertheless, TASC Strategic Consulting received its share of the mounting anger. The company’s Web site, www.tasc-consulting.com, was hacked by an Islamist-ultranationalist group Sunday. The global financial crisis might create new opportunities in particular areas, Vaaknin said.
"For example, there may arise opportunities for Turkey in wind turbine production. Turkey has great potential in renewable energy," he said. "We aim to contribute through providing consultancy services for both local and international market players who invest or plan to invest in Turkey."
Vaaknin said there currently are 10 gigawatts of wind energy potential in Turkey and TASC expects 30 percent of this would be realized over the next six years. The firm last November conducted research on the effects of the global turmoil on Turkey's renewable energy market. The research shows that "the attractiveness of Turkey's renewable energy market is growing."
The global crisis may also directly impact Turkey's electricity market. "There is downward pressure on the electricity market, and the crisis caused delays in the implementation of new power projects," Vaaknin said. "But the crisis also caused a decline in the cost of wind turbines."
Impact on production
On the other hand, the global financial crisis is having a major impact on the wind power sector, said Vaaknin. "One of the direct outcomes of the credit crunch is the fact that wind projects are being halted and turbine orders are being canceled. This has resulted in a slowdown in wind turbine production and decrease in turbine prices.
"Consequently, the shorter waiting period for turbine supply, initial signs of the development of a secondary market of turbine slots and the downward pressure on the cost of wind turbines all together, enhance Turkey's attractiveness in wind energy, considering the current electricity prices," he said.
TASC also plays a mediator role for potential business deals between countries. The Ministry of Transport and Communication of Kazakhstan asked TASC to promote the build-operate-transfer-based transportation projects of the country in Turkey, Vaaknin said. "We will contact construction companies in Turkey and present them with a review of the economic situation in Kazakhstan, inviting them to a seminar that Kazakh authorities will hold in Astana." Having undertaken over 200 financial advisory assignments to date, TASC Strategic Consulting, founded in 1993, ranks as the sixth leading advisory firm in Europe. The total value of the projects that TASC provided financial advisory for reached $6 billion in 2008.
The Turkish and Israeli people have a lot in common, David Vaaknin, country manager of Israel-based TASC Strategic Consulting in Turkey, told Hürriyet Daily News & Economic Review in Istanbul last week. "We are both Mediterraneans and do not like to be confined by strict rules," Vaaknin said. "I feel at home in Turkey."
As he spoke, the death toll in Gaza Strip was climbing to over 500, infuriating public opinion in Turkey. TASC Strategic Consulting specializes in energy, water, telecommunication, financial services, consumer goods and transportation, advising leading corporations and regulators on a wide range of strategic, economic and financial issues. After opening its Turkey office in May 2008, the company has focused on consulting for utilities, energy, transportation and communication here. Renewable energy constitutes the primary focus of the Israeli company.
Strong ties inspire confidence
Operating in Turkey in such tense times would likely create political pressure on the firm. However, Vaaknin said established political and economic relations and a healthy dialogue between the sides helped create confidence.
"Part of the reason why we are here is the fact that there are plenty of Israeli companies operating in Turkey," said Vaaknin, who studied philosophy at university. "There are Israeli-Turkish joint ventures in important sectors, such as tourism, water technologies and defense.
"Moreover, there are established and good relations between the two governments. For example, Turkey mediated the negotiations between Syria and Israel in recent months and that was a very good move for the entire region," he said.
Responding to a question on whether the ongoing conflict affected the operations of the company in Turkey, Vaaknin said, "Not at all, so far. No one has called us and asked to cancel any ongoing projects."
Nevertheless, TASC Strategic Consulting received its share of the mounting anger. The company’s Web site, www.tasc-consulting.com, was hacked by an Islamist-ultranationalist group Sunday. The global financial crisis might create new opportunities in particular areas, Vaaknin said.
"For example, there may arise opportunities for Turkey in wind turbine production. Turkey has great potential in renewable energy," he said. "We aim to contribute through providing consultancy services for both local and international market players who invest or plan to invest in Turkey."
Vaaknin said there currently are 10 gigawatts of wind energy potential in Turkey and TASC expects 30 percent of this would be realized over the next six years. The firm last November conducted research on the effects of the global turmoil on Turkey's renewable energy market. The research shows that "the attractiveness of Turkey's renewable energy market is growing."
The global crisis may also directly impact Turkey's electricity market. "There is downward pressure on the electricity market, and the crisis caused delays in the implementation of new power projects," Vaaknin said. "But the crisis also caused a decline in the cost of wind turbines."
Impact on production
On the other hand, the global financial crisis is having a major impact on the wind power sector, said Vaaknin. "One of the direct outcomes of the credit crunch is the fact that wind projects are being halted and turbine orders are being canceled. This has resulted in a slowdown in wind turbine production and decrease in turbine prices.
"Consequently, the shorter waiting period for turbine supply, initial signs of the development of a secondary market of turbine slots and the downward pressure on the cost of wind turbines all together, enhance Turkey's attractiveness in wind energy, considering the current electricity prices," he said.
TASC also plays a mediator role for potential business deals between countries. The Ministry of Transport and Communication of Kazakhstan asked TASC to promote the build-operate-transfer-based transportation projects of the country in Turkey, Vaaknin said. "We will contact construction companies in Turkey and present them with a review of the economic situation in Kazakhstan, inviting them to a seminar that Kazakh authorities will hold in Astana." Having undertaken over 200 financial advisory assignments to date, TASC Strategic Consulting, founded in 1993, ranks as the sixth leading advisory firm in Europe. The total value of the projects that TASC provided financial advisory for reached $6 billion in 2008.