YASED Convenes with Four Ministries in Ankara for the ‘International Investors Consultation Meeting’
YASED Chairman Erdem: “To achieve a sustainable improvement in the business and investment environment, and position our nation as a regional hub, we must: preserve macroeconomic stability, increase the amount of qualified workforce, implement workforce and localization strategies aimed at value-added production - specifically production that targets export markets, and integrate SMEs into the global value chain. These will place Turkey one step ahead in the global race to attract international direct investments”.
YASED (International Investors Association), in cooperation with the ministries of Science, Industry and Technology; Economy; Customs and Trade, as well as Finance held the ‘International Investors Consultation Meeting’ in Ankara, on January 16. The aim of the meeting was to evaluate the investment and business environment in Turkey.
The agenda of the meeting, attended by the Minister of Science, Industry and Technology, Faruk Özlü; the Minister of Economy Nihat Zeybekci; the Minister of Finance Naci Ağbal; and Deputy Minister of Customs and Trade Fatih Çiftçi, was to lay out a roadmap including incentives, reforms and other steps to improve the global competitiveness of Turkey and attract greater international direct investments.
In his opening speech at the workshop, YASED Chairman Ahmet Erdem shared opinions on the international investment environment in Turkey and spoke as follows: “Our meeting today with four ministries and the resulting environment of consultation and coordination, which we value very highly, attests to the importance placed by our government on international investment and investors”. Pointing out that their highest priorities are: the supremacy of law in the business and investment arena in our nation, predictability, the improvement of global competitiveness through free-market principles, and thereby the attainment of sustainable economic and social development, Erdem thus continued:
“With these in mind, the continuation of the EU membership process, modernization of Customs Union, evolution of Turkey into a regional center, attraction of new and large-scale investments, implementation of localization policies aimed at building value-added, competitive and innovative production capability targeting global markets, and finally working to minimize the impact of import barriers on investments are all highly critical issues”.
Stating that the government’s important incentive mechanisms of recent past have contributed to economic growth, Erdem, pointed out that the consolidation of the various disjointed incentives in numerous areas into a unified set of regulations and providing implementation support would significantly ease the burden on international investors.
“Going forward, as in the past, emphasizing education efforts that can grow the qualified workforce in Turkey, development of a comprehensive employment strategy befitting a production-oriented economy, integration of SMEs into the global value chain, acceleration of the digital transformation in industry, and positioning our nation as a regional center, will place us one step ahead in the global competitive arena” Erdem said and expressed his gratitude for the government’s Medium Term Program, which continues to emphasize all of the above. He further pointed out that lifting the State of Emergency, which was a necessity following the treacherous coup attempt of July 15th, in the near future would improve the image of the nation abroad and help to alleviate the concerns of new investors.
Full Support from the ministers...
No excuses; stay the course
“Previously our motto was ‘there is no stopping; stay the course’, now it has become ‘no excuses; stay the course’” said the Minister of Economy Nihat Zeybekci, adding that as a key global actor in the international arena, Turkey has lofty goals.
Attempting to do this all alone would be a mistake, said Zeybekci, and stated that for the growth of Turkey international investments are a must. Zeybekci said “We highly welcome direct international investments that will help grow Turkey”.
The bar is set high in technology
The Minister of Science, Industry and Technology, Faruk Özlü drew attention to the fact that Turkey is in a highly advantageous position to attract international investment and said that to pull in greater sums of investment, Turkey must break the vicious cycle defined by low and medium technology.
Özlü explained that the funds within the budget of KOSGEB (Small and Medium Industry Development Organization) channeled to the support of young entrepreneurs, branding SMEs, and improvement of R&D efforts increased by 60 percent compared to the previous year, reaching 1.7 billion TL.
The Minister of Finance Naci Ağbal added that they frequently meet with YASED to improve the international direct investment environment and that they receive critical strategic suggestions from YASED during these exchanges. These meetings help them track the developments on the ground with regards to the investment environment, he noted.
We shortened the incorporation process
During his speech at the meeting, Deputy Minister of Customs and Trade Fatih Çiftçi mentioned several steps taken by the ministry to support economic growth as well as improve the investment environment. Çiftçi mentioned that they simplified the process of setting up a corporation to ease the entry of international investment, while also introducing new clauses that provide advantages to SMEs for exports. He finally mentioned that the use of checks in commerce has become safer with the introduction of the data matrix.