YASED (International Investors Association): Reforms supporting value added investments should continue
With the cooperation of the Ministry of Industry and Technology, YASED (International Investors Association) organized a workshop in Istanbul on October 25, 2018 to evaluate the investment and business environment in Turkey.
The workshop was held with the participation of Dr. Çetin Ali Dönmez, Vice Minister of Industry and Technology, Ahmet Erdem, Chairman of YASED and the broad participation of YASED members. During the workshop, the roadmap, incentives and reforms required to enhance Turkey's global competitiveness and the roadmap, incentives and reforms required to attract international direct investments, were discussed.
Dönmez said: "Our doors are open to all investments that will create added value"
During the meeting, Dönmez provided information about international investment inflows that occurred recently in Turkey, and said: "In 2017, the international capital amount globally decreased by 22%; whereas this rate was reported as 17% in Turkey. This figure indicates that Turkey faces no problem with international direct investment inflows. The interest of international capital to Turkey, primarily by Europe continues. Therefore, our doors are open to all investors who will support domestic production, perform value added production and increase employment in Turkey. All mechanisms required to achieve this aim will be provided.
Dönmez indicated that they will continue improvements in the existing incentive mechanisms, and also work on data inventory and impact analysis. Dönmez further stated that they will provide grant-like financial support to companies that make investments.
During his opening speech at the workshop, Ahmet Erdem, Chairman of YASED, shared his opinions about the international investment environment in Turkey and said: "For the sustainability of the business and investment environment in Turkey, it is important to realize structural reforms resolutely, as well as Turkey's potential to attract investments. Accordingly, the New Economy Program announced recently plots a significant roadmap to ensure balancing and change in the economy. Within this process, we welcome the adoption of a management approach in the administration of the economy, which allows for rapid decision-making, leads the markets and paves the way for the private sector.
Erdem said: "Turkey aims to become one of the largest economies in the world. Thus, it should now focus on digitalization and R&D activities in industry, and with its high value- added products, make a transition to an export-oriented and information-based economic structure, which enhances competitiveness in the global market." He also stated that a significant benefit for investors in Turkey would be the creation of a structure that consolidates incentives under a single regulation, and to establish a structure for performance feedback to support industrial promotion.