PM to bosses: Let’s make Istanbul ‘investment haven’

ISTANBUL - Doğan News Agency

AFP photo

In a speech to leading businesspeople in Istanbul, Prime Minister Ahmet Davutoğlu has said he wants to make Turkey’s largest city into a “safe investment haven with our democracy and judicial system.” in a speech to a number of leading businesspeople in a meeting ahead of the crucial Nov. 1 elections. 

“Let’s turn Istanbul into a safe investment harbor with our democracy and judicial system. People who invest money here should feel they can earn more from this investment and their money is under protection,” Davutoğlu said during his meeting with representatives from top business organizations including the Turkish Industry and Business Association (TÜSİAD), the Union of Chambers and Commodity Exchanges of Turkey (TOBB), the Istanbul Chamber of Industry (İSO) and the Istanbul Chamber of Commerce (İTO). 

The meeting was planned to be held in the house of Turgay Ciner, the owner of Turkish conglomerate Ciner Holding, but it was rescheduled to be organized at an Istanbul hotel due to Davutoğlu’s heavy program. 

Davutoğlu was accompanied by former Deputy Prime Minister Ali Babacan, Finance Minister Mehmet Şimşek and Economy Minister Nihat Zeybekci. 

“We need to realize the required structural reforms immediately for sustainable development in the medium and long terms. In this sense, the Nov. 1 elections are of great importance,” the prime minister said, stressing that the Turkish economy is “resistant to any potential shocks.” 

Turkey has faced “three huge challenges” in the last couple of years, Davutoğlu added. 

“The first of them is the global crisis, which has evolved from a financial crisis to an economic crisis since its outbreak in 2008 … We have faced an uncomfortable global economic conjuncture, which is partially in recession but is still open to very dangerous shocks. We need to take the required measures to offset such negative effects. Secondly, we have faced regional challenges and geopolitical risks. Thirdly, Turkey needs to maintain political stability again. I don’t want to name it as a challenge as we hope this will be resolved after the Nov. 1 elections,” he said. 

He also noted that sustainable development can be ensured only through “democratic stability.” 

“We have all seen how the dictatorial regimes that disregard freedom of expression, human rights and liberties and limit entrepreneurship liberties are now collapsing,” he added.