Turkey eyes bigger share of int'l direct investments: Erdogan

Turkey eyes bigger share of int
# 22 June 2021 22:17 (UTC +04:00)

Turkey's strategy on international direct investment will serve as a roadmap to securing value-added investments in the sectors that the economy needs, the country's president said on Tuesday, APA reports citing AA.

"(The roadmap's) main objective is to increase our market share in global direct investments to 1.5% by 2023, in line with the 11th Development Plan," Recep Tayyip Erdogan said on a new strategy document for 2021-2023 released by the country's Investment Office on foreign direct investment.

Thanks to its advantageous location, Turkey has access to a huge market of $26 trillion and 1.3 billion people within a four-hour flight distance, noted Erdogan.

Besides these commercial advantages, Turkey is one of the most reliable routes for the transportation of energy resources to European countries on the east-west route, he added.

Underlining that Turkey has managed to attract approximately $225 billion of international direct investment since 2003, Erdogan said that companies that choose to invest in the country increased their investments over time and "positioned our country as a production, export and management center."

The government is determined to improve Turkey's economic development and investment environment by joining hands with both existing investors and new entrepreneurs in the next period, he underlined.

"For this purpose, under the coordination of our Presidential Investment Office, we've prepared our country's international direct investments strategy in cooperation with all relevant public and private sector institutions."

Erdogan noted that Turkey had enacted a special law in 2003 that provides assurances for international direct investments, adding that Ankara had also inked mutual investment protection and double taxation prevention agreements with many countries.

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