{"id":29693,"date":"2019-10-14T13:57:31","date_gmt":"2019-10-14T10:57:31","guid":{"rendered":"https:\/\/emlaktuel.com\/?p=29693"},"modified":"2019-10-14T13:57:31","modified_gmt":"2019-10-14T10:57:31","slug":"yurtdisi-yatirimlarda-basarinin-5-sirri","status":"publish","type":"post","link":"https:\/\/emlaktuel.com\/?p=29693","title":{"rendered":"Yurtd\u0131\u015f\u0131 yat\u0131r\u0131mlarda ba\u015far\u0131n\u0131n 5 s\u0131rr\u0131"},"content":{"rendered":"<p><strong><i>Uzmanlar, yurtd\u0131\u015f\u0131 yat\u0131r\u0131mlara e\u011filimin artt\u0131\u011f\u0131 bu d\u00f6nemlerde do\u011fru bir stratejiyle hareket etmek gerekti\u011fine vurgu yap\u0131yor.\u00a0<\/i><\/strong>Ekonomik belirsizli\u011fin ya\u015fand\u0131\u011f\u0131 d\u00f6nemlerde yurt d\u0131\u015f\u0131nda i\u015f yapma e\u011filiminin giderek artt\u0131\u011f\u0131 g\u00f6r\u00fcl\u00fcyor. Son d\u00f6nemde \u00f6zellikle m\u00fcteahhit \u015firketlerin yurt d\u0131\u015f\u0131nda i\u015f alma e\u011filiminde bir art\u0131\u015f ya\u015fan\u0131yor. Orta Do\u011fu, T\u00fcrki Cumhuriyetler ve Afrika \u00fclkeleri gibi daha bakir piyasalar, sa\u011flad\u0131\u011f\u0131 f\u0131rsatlar ile yat\u0131r\u0131mc\u0131lar\u0131n ilgisini \u00e7ekiyor.\u00a0<strong>Dinamo Dan\u0131\u015fmanl\u0131k Kurucu Orta\u011f\u0131, Kamu \u00d6zel Ortakl\u0131\u011f\u0131 (PPP) ve Proje Finansman\u0131 Uzman\u0131 Fatih Kuran,\u00a0<\/strong>yurtd\u0131\u015f\u0131nda yat\u0131r\u0131m yapmak isteyen yat\u0131r\u0131mc\u0131lar i\u00e7in a\u015fa\u011f\u0131daki tavsiyelerde bulundu. Giri\u015fimcilerin yurtd\u0131\u015f\u0131na yat\u0131r\u0131m a\u00e7\u0131l\u0131m\u0131n\u0131n, yurtd\u0131\u015f\u0131na yat\u0131r\u0131m mallar\u0131n\u0131n ve buna ba\u011fl\u0131 hizmetlerin ihrac\u0131 ile do\u011frudan yat\u0131r\u0131mlar olarak iki k\u0131s\u0131mda incelenebilece\u011fini belirten\u00a0<strong>Fatih Kuran<\/strong>\u00a0s\u00f6zlerine \u015f\u00f6yle devam etti:<\/p>\n<p><strong>Tercih Edilen \u00dclke \u0130yi Analiz Edilmeli<\/strong><\/p>\n<p>\u00d6ncelikle yurtd\u0131\u015f\u0131nda aktif olabilmek i\u00e7in ilgili \u00fclkenin potansiyelini, dinamiklerini, kanun ve mevzuatlar\u0131, i\u015f yapma \u015fekillerini iyi tespit etmek ve piyasaya girmeye \u00e7al\u0131\u015f\u0131rken buna uygun bir yakla\u015f\u0131m i\u00e7inde olmak gerekiyor. Unutmamak gerekiyor ki her \u00fclke apayr\u0131 bir d\u00fcnya ve en k\u0131sa zamanda kendimizi adapte etmek durumunday\u0131z. \u0130lgili co\u011frafyada i\u015fe yarar bir ba\u011flant\u0131 a\u011f\u0131 in\u015fa etmek ve do\u011fru kullanmak da kritik \u00f6nemde. Hemen her \u00fclkeyi yak\u0131ndan tan\u0131yan uzmanlar oldu\u011fu i\u00e7in mutlaka fikir ve dan\u0131\u015fmanl\u0131k almakta b\u00fcy\u00fck fayda var. Yan\u0131 s\u0131ra \u00fclkede daha \u00f6nce yat\u0131r\u0131m yapm\u0131\u015f \u015firketlerin deneyimlerinden de faydalanmak \u00f6nemli. Aksi takdirde \u00f6\u011frenme s\u00fcrecinde uzun s\u00fcre havanda su d\u00f6ven \u015firketlerin say\u0131s\u0131 hi\u00e7 de az de\u011fil.<\/p>\n<p><strong>Finansal \u0130mkanlar Yarat\u0131lmal\u0131<\/strong><\/p>\n<p>\u0130ster do\u011frudan yat\u0131r\u0131mc\u0131 ister yat\u0131r\u0131m mal\u0131m\u0131z\u0131 satmaya \u00e7al\u0131\u015fan m\u00fcteahhit \u015firket olal\u0131m hedefledi\u011fimiz \u00fclkedeki yat\u0131r\u0131mlara kaynak sa\u011flamak i\u00e7in finansal imkanlar yaratmak durumunday\u0131z. Sataca\u011f\u0131m\u0131z mal ve hizmetlerin m\u00fc\u015fterilerimiz taraf\u0131ndan al\u0131nabilir olmas\u0131 i\u00e7in uygun finansal ko\u015fullar\u0131 yaratmak \u00f6zellikle son d\u00f6nemlerde giderek artan rekabetin bir \u00f6n ko\u015fulu olmu\u015f durumda. Do\u011frudan yat\u0131r\u0131mlarda ise finansman olanaklar\u0131n\u0131 bu defa da kendimiz i\u00e7in yat\u0131r\u0131m projemizin nakit ak\u0131\u015f yap\u0131s\u0131na uygun ve performans\u0131 maksimize edecek \u015fekilde olu\u015fturmak mecburiyetindeyiz. Finansman kayna\u011f\u0131 aray\u0131\u015f\u0131na ba\u015flarken dikkate almam\u0131z gereken be\u015f temel unsur sayabiliriz. Bunlar 1. Hangi \u00fclke 2. Hangi sekt\u00f6r 3. A\u011f\u0131rl\u0131kl\u0131 hangi \u00fclkelerden mal tedari\u011fi yapaca\u011f\u0131z4. yat\u0131r\u0131m\u0131n b\u00fcy\u00fckl\u00fc\u011f\u00fc ve 5. Madde olarak ise PPP (Kamu \u00d6zel Ortakl\u0131\u011f\u0131) veya yabanc\u0131 ortakl\u0131klar gibi projenin yap\u0131l\u0131\u015f veya tedarik \u015fekli olarak ifade edebiliriz. Yat\u0131r\u0131m\u0131n hangi \u00fclkede oldu\u011fu, ilgili co\u011frafyada politik riskin ne oldu\u011fu, aktif olan yerel ve yabanc\u0131 bankalar\u0131 belirlemek ve fon aray\u0131\u015f\u0131m\u0131z\u0131 \u015fekillendirmek i\u00e7in \u00f6nemli.<\/p>\n<p><strong>Uluslararas\u0131 Finans Kurulu\u015flar\u0131n\u0131n Kap\u0131s\u0131 \u00c7al\u0131nmal\u0131<\/strong><\/p>\n<p>IFC, EBRD, Asya Kalk\u0131nma Bankas\u0131, \u0130slam Kalk\u0131nma Bankas\u0131 gibi bankalar yat\u0131r\u0131m finansman\u0131nda \u00f6nemli oyuncular oldu\u011fu i\u00e7in ilgili olduklar\u0131 co\u011frafyalar ile sekt\u00f6rleri bilmek ve aray\u0131\u015f\u0131m\u0131z\u0131 do\u011fru hedeflere y\u00f6nlendirmemiz gerekmekte. Yat\u0131r\u0131m mallar\u0131n\u0131 a\u011f\u0131rl\u0131kl\u0131 hangi \u00fclke veya \u00fclkelerden temin edece\u011fimiz ise Hermes, SACE, Coface, US Exim gibi hangi ECA\u2019ler vas\u0131tas\u0131 ile finansman sa\u011flayabilece\u011fimizi belirleyecek olmas\u0131 bak\u0131m\u0131nda \u00f6nemli. ECA (Export Credit Agency) \u2018ler kendi \u00fclkelerinin rakabet g\u00fcc\u00fcn\u00fc ve dolay\u0131s\u0131 ile de ihracat\u0131n\u0131 geli\u015ftirmeyi hedefledikleri i\u00e7in yat\u0131r\u0131m mallar\u0131n\u0131n a\u011f\u0131rl\u0131kl\u0131 olarak kendi \u00fclkelerinden temin edilmesi halinde t\u00fcm yat\u0131r\u0131m i\u00e7in uygun kredi imkanlar\u0131 sa\u011flayabilmekteler. Sa\u011flad\u0131klar\u0131 kredinin vadesi ve kullan\u0131m ko\u015fullar\u0131 ihracat\u0131n yap\u0131laca\u011f\u0131 \u00fclkenin politik riskine, sekt\u00f6re ve yat\u0131r\u0131m\u0131n b\u00fcy\u00fckl\u00fc\u011f\u00fcne ba\u011fl\u0131 olarak da de\u011fi\u015fiklik arz etmekte. \u00d6rne\u011fin yenilebilir enerji alan\u0131ndaki projelerde genel kab\u00fcl olarak daha uygun kredi kullan\u0131m ko\u015fullar\u0131 ve daha uzun vadeler m\u00fcmk\u00fcn olabilmekte. Baz\u0131 projelerde y\u00fcklenici \u015firketler \u00f6zellikle daha cazip finansman imkanlar\u0131ndan faydalanabilmek amac\u0131 mal tedari\u011fini daha rekabet\u00e7i ve esnek olan ECA\u2019lerin aktif oldu\u011fu \u00fclkelere y\u00f6nlendirebilmekteler. Kalk\u0131nma ve Yat\u0131r\u0131m Bankalar\u0131 ile ECA\u2019ler haricinde ilgili co\u011frafyaya ilgisi olan ticari bankalar ile yat\u0131r\u0131m kredisi sa\u011flayan veya bazen ortak da olabilen yerel bankalar\u0131n fon kulland\u0131r\u0131m ko\u015fullar\u0131 da finansman paketini olu\u015ftururken dikkate al\u0131nmas\u0131 gereken di\u011fer hususlar.<\/p>\n<p><strong>Profesyonel Destek Al\u0131nmal\u0131<\/strong><\/p>\n<p>Projelerin yap\u0131labilirli\u011fini sa\u011flayacak do\u011fru finansman kaynaklar\u0131n\u0131 bir araya getirebilmek uzmanl\u0131k gerektiren bir i\u015f. Farkl\u0131 \u00fclkelerdeki de\u011fi\u015fken ko\u015fullara ba\u011fl\u0131 finansman kaynaklar\u0131n\u0131 ister kendi yat\u0131r\u0131mlar\u0131n\u0131z isterse de m\u00fc\u015fterilerinizin yat\u0131r\u0131mlar\u0131 i\u00e7in do\u011fru \u015fekilde bir araya getirip projenin performans\u0131n\u0131 ve finanse edilebilirli\u011fini geli\u015ftirmek gerekiyor. \u0130lgili \u00fclkedeki ve proje \u00f6zelindeki riskleri analiz etmek ve en do\u011fru \u015fekilde y\u00f6netmek de i\u015fin \u00e7ok \u00f6nemli bir par\u00e7as\u0131. Bu sayede projelerin performans\u0131n\u0131 geli\u015ftirmek ve bankalarla olan m\u00fczakere s\u00fcrecini en do\u011fru \u015fekilde y\u00f6netmek m\u00fcmk\u00fcn.<\/p>\n<p><strong>Finansal M\u00fchendislik Y\u00f6ntemi<\/strong><\/p>\n<p>Finansal M\u00fchendislik \u00e7al\u0131\u015fmalar\u0131n\u0131n amac\u0131 ele al\u0131nan i\u015f ile ilgili en uygun finansal ko\u015fullar\u0131 bir araya getirmektir. Yap\u0131lacak \u00e7al\u0131\u015fmalar\u0131n amac\u0131 \u00e7o\u011fu zaman karl\u0131l\u0131\u011f\u0131 ve yarat\u0131lacak de\u011feri artt\u0131rmak, uygun finansal ko\u015fullar ile fon imkanlar\u0131n\u0131 sa\u011flamak, sermayenin geri d\u00f6n\u00fc\u015f h\u0131z\u0131n\u0131 geli\u015ftirmek ile rakabet g\u00fcc\u00fcn\u00fc artt\u0131rmak \u015feklindedir. Finansal m\u00fchendislik uygulamalar\u0131 ile yat\u0131r\u0131m yap\u0131lacak \u00fclke ve sekt\u00f6re ba\u011fl\u0131 olarak yat\u0131r\u0131mc\u0131lar ve duruma ba\u011fl\u0131 olarak y\u00fcklenicler lehine t\u00fcm bu par\u00e7alar\u0131 uygun bir \u015fekilde bir araya getirmemiz gerekiyor. Yeni d\u00f6nemde rekabet\u00e7i olabilmek i\u00e7in \u00f6nemi giderek artan Kamu \u00d6zel Ortakl\u0131\u011f\u0131 (PPP) kapsam\u0131ndaki proje yap\u0131lar\u0131na da hakim olmak \u00f6nemli. \u00dclke y\u00f6netimleri kendi finansman kaynaklar\u0131n\u0131 t\u00fcketmedi\u011fi ve proje performans\u0131n\u0131 artt\u0131rd\u0131\u011f\u0131 i\u00e7in PPP\u2019nin uygulama y\u00f6ntemleri aras\u0131nda yer alan Yap-\u0130\u015flet- Devret ve Yap-Kirala-Devret gibi tedarik y\u00f6ntemlerini giderek artan \u015fekilde kullanmaktalar. PPP projelerinde m\u00fcteahhit \u015firketler genelde y\u00fcklencii vasv\u0131f\u0131n\u0131n yan\u0131na i\u015fletmeci kimli\u011fini de eklemek durumunda kal\u0131yorlar. Bu nedenle art\u0131k yurt d\u0131\u015f\u0131nda i\u015f yapmak isteyen \u015firketlerimizin pek de al\u0131\u015fk\u0131n olmad\u0131klar\u0131 \u00f6zellikle i\u015fletme performans\u0131 ile ilgili gerekliliklere ve risklere hakim olmalar\u0131 da gerekiyor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uzmanlar, yurtd\u0131\u015f\u0131 yat\u0131r\u0131mlara e\u011filimin artt\u0131\u011f\u0131 bu d\u00f6nemlerde do\u011fru bir stratejiyle hareket etmek gerekti\u011fine vurgu yap\u0131yor.\u00a0Ekonomik belirsizli\u011fin ya\u015fand\u0131\u011f\u0131 d\u00f6nemlerde yurt d\u0131\u015f\u0131nda i\u015f yapma e\u011filiminin giderek artt\u0131\u011f\u0131 g\u00f6r\u00fcl\u00fcyor. Son d\u00f6nemde \u00f6zellikle m\u00fcteahhit \u015firketlerin yurt d\u0131\u015f\u0131nda i\u015f alma e\u011filiminde bir art\u0131\u015f ya\u015fan\u0131yor. Orta Do\u011fu, T\u00fcrki Cumhuriyetler ve Afrika \u00fclkeleri gibi daha bakir piyasalar, sa\u011flad\u0131\u011f\u0131 f\u0131rsatlar ile yat\u0131r\u0131mc\u0131lar\u0131n ilgisini [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[26],"tags":[13834],"_links":{"self":[{"href":"https:\/\/emlaktuel.com\/index.php?rest_route=\/wp\/v2\/posts\/29693"}],"collection":[{"href":"https:\/\/emlaktuel.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emlaktuel.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emlaktuel.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emlaktuel.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29693"}],"version-history":[{"count":1,"href":"https:\/\/emlaktuel.com\/index.php?rest_route=\/wp\/v2\/posts\/29693\/revisions"}],"predecessor-version":[{"id":29695,"href":"https:\/\/emlaktuel.com\/index.php?rest_route=\/wp\/v2\/posts\/29693\/revisions\/29695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emlaktuel.com\/index.php?rest_route=\/wp\/v2\/media\/29694"}],"wp:attachment":[{"href":"https:\/\/emlaktuel.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emlaktuel.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emlaktuel.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}