Investors eye returning to Turkiye: meeting in Istanbul discusses 200 bln dollars

Turkish Vice President Cevdet Y?lmaz attended the International Private Capital Investment Conference held in Istanbul.

Delivering a speech at the conference the Vice President said that more than 40 high-level fund representatives will be represented in the Capital Investment Conference held in Istanbul.

He noted that the total amount of funds represented by the speakers is over 200 billion dollars. Investment strategies will be discussed at the conference.

Regarding the Medium Term Program covering the period 2024-2026, Y?lmaz said that increasing social welfare, improving it in a permanent way, and increasing social justice will be among our main goals.

"We accompanied an important investment meeting. This was a meeting hosted by GlobalTürk Kapital and organized with the strategic partnership of the global private capital association, whose members manage nearly 2 trillion dollars of assets in the world. The conference of private equity investment funds investing in Turkiye and its surroundings, supported by our Presidential Investment Office. The 5th edition is being held today in Istanbul,” Y?lmaz said.

The Vice President pointed out that Investment strategies, investment themes of today and the future, and how to attract more investments will be discussed. Private credit and fintech tools will be on the agenda again. He said that alternative financing tools, especially alternative financing tools for companies that have difficulty accessing credit, will be discussed, as well. Investment opportunities in entrepreneurial technologies will be discussed. He noted that companies' local and cross-border purchasing strategies will be on the agenda. Opportunities to go public on Borsa Istanbul will be another issue to be evaluated for companies. As it is known, a favorable investment environment forms the backbone of inclusive and sustainable growth.

"Turkiye, with its strategic location connecting three continents, is increasingly coming to the fore in the search for alternatives to the Asia-centered production network. Here we are talking about a concrete indicator of this. As a matter of fact, I would like to emphasize that we have attracted a large amount of direct foreign capital in the last 20 years. 260 billion in the last 20 years. The dollar has directly attracted international capital to Turkiye. As of today, I would like to state that around 80 thousand international companies operate in our country. We always underline that if a company comes and invests in our country, brings technology to our country, provides employment, and increases our exports and prosperity, we see it as our company. We make all our companies compete under equal conditions, without any discrimination between companies," he said.

Cevdet Y?lmaz stressed that multinational companies' interest in Turkiye will increase day by day in line with their strategies of positioning in nearby regions, regionalization, and product diversification. The Turkish durable and fast-growing economy, policies that improve the business and investment environment, qualified workforce pool, geostrategic location, and infrastructure, and the increased flow of direct and long-term capital to Turkiye, emerge as our important advantages.

“Here, of course, I would like to underline that the elimination of political uncertainties with the elections we had in May, the medium-term program we announced in the past period, and the 12th election that we presented to our parliament. With the elimination of policy uncertainties with the development plan, the main framework of the investment environment in Turkiye has improved greatly. In an environment where political uncertainties have decreased, trust and stability have been strengthened, and policy uncertainties have been eliminated with various documents and renewed and updated policies, there will be many more long-term investments in the coming period. We think that the resources will come to Turkiye and invest. We are already seeing signs of this. "This will continue to accelerate," he said.

Cevdet Y?lmaz also added that the Turkish Medium Term Program covering the 2024-2026 period includes the necessary steps to improve the investment environment and increase predictability for investors, and these steps will be implemented as soon as possible. He said that it will continue on its way with structural reforms as well as monetary policies and fiscal policies.

“In this sense, improving the business and investment environment will constitute one of the main axes of our structural reforms. Our aim is to create a Turkiye that produces more added value by increasing the quality and diversity of investments. As we walk step by step towards our goals in the Turkish century, we will expand our country within the framework of the vision drawn by our President to 2053 and beyond. We will continue our efforts to attract more permanent capital from around the world. On the one hand, we will gain a larger share of the world economy, and on the other hand, we will build an economy that grows in an inclusive and stable manner in an environment where inflation decreases. "And as a result of all this, increasing social welfare, improving it in a permanent way, and increasing social justice will be one of our main goals," he said.