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International Investors praise Investment Climate in Turkey

Representatives from 20 global companies have praised the investment climate within the Turkish economy, following the failed July coup attempt.

At the 9th Investment Advisory Council Meeting in Istanbul, David Hess, executive Vice President of United Technologies Corporation, speaking on behalf of all attendant representatives, declared:

“The recent unfortunate incidents that have taken place in Turkey (with the attempted coup) make the achievements of the economy even more praiseworthy since they show the commitment and success of policymakers to maintain a competitive business climate; the alignment and the unity of people in Turkey shows that they fully support them in moving forward on this chosen path.

As representatives of the international business community – with strong interest in the potential and future of Turkish economy – we are glad to see this solidarity and strength of Turkey’s stance as a proponent of liberal and dynamic investment policies in the G-20’’.

At a follow up press meeting on October 27, he underlined that there was a “significant gap between the reality and perception in Turkey as a safe and attractive investment destination and that we advise the government to make a more efficient use of communication channels with all segments of the international business community. We are committed to working with the government to overcome this gap in perception”.

The representatives highlighted several key recent accomplishments by the government, including  re-enactment of the law on protection of personal data, the opening of regional courts of justice to facilitate judicial processes, government support for research and development activities, the successful launch of 4.5G technology to accelerate ICT growth, the enactment of a comprehensive reform package on improving the investment climate, the introduction of a new investment incentive scheme for priority regions (to narrow regional gaps) and new initiatives to improve job markets.

They also referred to Turkey’s economic growth rate in recent years, which has outperformed most of the world’s emerging economies.

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