Türkiye goals to change into a middle for investments and manufacturing, Vice President Cevdet Yılmaz mentioned Saturday, whereas pledging to make sure the nation reaches a stronger place economically, diplomatically and strategically.
Speaking on the tenth assembly of the Investment Advisory Council for Türkiye, Yılmaz evaluated the financial potential Türkiye carries, whereas recalling the expansion within the share of overseas direct funding (FDI) the nation obtained within the final 20 years.
“The Turkish economy has attracted $268 billion in international direct investment in the last 21 years, increasing its global share in this area from 0.2% to 1%,” Yılmaz mentioned, including that they intention to raise this additional to 1.5% within the subsequent 5 years with the robust financial program that has been put ahead.
“In this period that we call the ‘Century of Türkiye’, we will continue to work with all our efforts to ensure that our country reaches a stronger position economically, diplomatically and strategically,” he mentioned.
“We are determined to make Türkiye a center of attraction that will make it an investment and production base,” he added.
The high-profile funding assembly, the primary since 2016, was held in Istanbul beneath the chairmanship of President Recep Tayyip Erdoğan.
Top officers from Trade Minister Ömer Bolat, Energy and Natural Resources Minister Alparslan Bayraktar to Investment Office head Ahmet Burak Dağlığlu attended the assembly.
It additionally introduced collectively world giants from totally different sectors, together with the power, automotive, know-how, asset administration, monetary companies, transportation to telecommunications sectors, from a minimum of a dozen international locations.
Among the individuals have been Templeton Asset Management, Qatar Investment Authority (QIA), Vitol, Emirates NBD, Mitsubishi Corporation, Chery, ACWA Power, MASDAR and BRF, as per an Anadolu Agency (AA) report.
Delivering a message to all traders in search of funding alternatives in numerous components of the world, particularly the corporate representatives current on the assembly, Yılmaz referred to as on them to judge the alternatives supplied by Türkiye.
“In an environment where global value chains are being reshaped, it is time to evaluate the opportunities offered by Türkiye and to invest in this unique country,” he maintained.
“As the government, we are ready to do our part in this regard and will provide all kinds of support to facilitate your investment processes,” he added.
‘Very optimistic’
Following the closed-door assembly, Templeton Asset Management CEO Manraj Sekhon made evaluations earlier than the ultimate assertion he introduced on behalf of the taking part corporations.
In his speech, Sekhon acknowledged that that they had very productive periods throughout the scope of this system and that that they had a “great” assembly.
“There is a great sense of optimism, both around the table and in a broader context, as we have discussed with our business partners and all our stakeholders worldwide,” he mentioned.
“We are very optimistic about the changes here and the ongoing reforms in Türkiye, and we also have great confidence in the policy framework,” he added.
Türkiye just lately introduced an replace to the medium-term program (MTP) that outlines priorities in financial ambitions and the objective of decreasing inflation whereas making certain sustainable progress and boosting funding alternatives and employment.
The Investment Advisory Council is a platform established with the participation of senior executives from distinguished multinational corporations to deal with the executive boundaries to funding, enhance the picture of Türkiye as a gorgeous funding vacation spot and supply a global perspective to the continued funding local weather reform agenda.
Speaking on the assembly, President Erdoğan additionally addressed steps taken in a variety of fields, from overseas direct investments, capital markets rules and activation of the banking and finance system to funding incentives, mental property rights and customs and competitors rules.
“Thanks to all this, our country has today become one of the top destinations of foreign direct investments. And from now on, we, with common sense, will put into service new reform packages that will find solutions to our problems. We are determined to make the ‘Century of Türkiye’ the century of investments as well,” he mentioned.
Recalling disruptions within the provide chains and geopolitical tensions that emerged after the COVID-19 pandemic, Erdoğan underscored Türkiye’s quick adaption to this transformation course of with its manufacturing capabilities, robust infrastructure and certified human sources.
“Many recent developments have highlighted Türkiye’s role in the global economy,” he mentioned.
“For instance, the crisis that took place in the Suez Canal at the beginning of this year has once again shown how fragile global trade is. By offering alternative transportation routes during the blockage in the Suez Canal, Türkiye has proven that it is a reliable trade partner. Our country’s position in global supply chains grows stronger each passing year,” he defined.
He additionally recalled that they’ve decided an financial street map with paperwork such because the twelfth Development Plan, the Medium-Term Program and the International Direct Investment Strategy, including that Türkiye would proceed to be one of many main economies most popular by worldwide investments, the place it grows and develops within the new interval,
Stating that by specializing in digital transformation, a inexperienced financial system and power effectivity, they plan to hurry up the investments in these areas, the president mentioned: “The just lately introduced progress, employment, overseas commerce and inflation figures reveal that the (medium-term) program is functioning. We have entered a interval during which our present account deficit falls, reserves improve, threat indicators enhance and the inflation is taken beneath management.”
Separately, on Saturday, Erdoğan acquired Zhang Guibing, president of Chery International, on the Dolmabahçe presidential workplace in Istanbul, in a gathering that was closed to the press and in addition attended by Industry and Technology Minister Mehmet Fatih Kacır.
Earlier media studies indicated potential funding by the Chinese automaker within the nation after BYD earlier in July agreed to a $1 billion deal to arrange a producing plant in Türkiye.
Source: www.dailysabah.com