Foreign Investment: Think Turkey
Hong Kong | Jan 6 2013 | (22:49:55 - EDT)
The International Edition of The Hong Kong Trader recently published an article titled “Promising Turkey”. An excerpt is below.
Haldun Tekneci, Consul General of the Consulate General of Turkey in Hong Kong, recently spoke at a Hong Kong Trade Development Council (HKTDC) seminar spotlighting business and investment opportunities in Turkey. An agreement was recently signed between the HKTDC and the Foreign Economic Relations Board of Turkey to promote business ties between the two economies. Later this year, the HKTDC will organize Lifestyle Expo in Turkey for Turkish and Hong Kong business to explore potential partnerships. In Six Questions, the Consul General explains how Hong Kong and Turkey can each serve as a gateway to markets of vast opportunity.
What is Turkey’s foreign investment environment like?
Turkey remains one of the most attractive countries for foreign investment. During the last eight years, the total inflow of foreign direct investments reached US$100 billion dollars. Total investment inflows during the same period increased 7.3 times. The involvement and participation of international investors is highly encouraged in the massive privatization program. Turkey was listed among the top OECD countries that has gained the most out of its privatization program. From 1985 to 2002, the total value of privatization was US$8 billion. In the eight years from 2002 to 2010, this number climbed to US$48.2 billion. Business and investment opportunities for foreign investors have been comprehensively enhanced through this program, enacted last July.
Turkey has a healthy banking system and sound public finance. The Turkish law on foreign direct investment provides equal treatment for foreign and domestic investors. The fundamental rights and freedoms of foreigners may only be restricted by law in a manner consistent with international law, according to Article 16 of the Turkish Constitution. It takes about eight days to establish a foreign-owned limited liability company in Turkey, which is much faster than the Investing Across Borders-World Bank Group global average, including for Europe and Central Asia.
Read the entire article from Hong Kong Trader here.
Source: Hong Kong Trader
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