Türkiye ‘received $262 billion in investments in 21 years’

ISTANBUL

Türkiye is a country that has attracted 262 billion dollars in investments since 2003, Burak Dağlıoğlu, president of the Presidential Investment Board, has said.

Speaking at the 43rd Ordinary General Assembly of the International Investors Association (YASED), Dağlıoğlu said that there were less than 6,000 international companies in the country 21 years ago, but now there are more than 80,000.

"Since 2003, under the leadership of our president, we see the story of Türkiye's breakthrough in many fields,” he said, adding that the country was a middle low-income country in 2003 with a per capita national income of $3,000.

"Now it is a middle high-income country with a per capita national income of $13,000,” he said.

“Again, if we look at it, while Türkiye was a country with a share of less than 0.5 percent in world trade at that time, it has now increased its global exports share to over 1.1 percent."

Dağlıoğlu noted that Türkiye has attracted $262 billion in investments since 2003.

"According to data from the Industry Ministry and Trade Ministry, foreign companies account for 8.4 percent of employment and private sector employment in Türkiye,” he said.

“Companies with international capital also account for 30 percent of private sector R&D expenditures in the country. Sixty percent of exports consist of high and medium-high products. In this context, we see that YASED members positively improve the investment environment in Türkiye in a way that increases value added, and that they attract Turkish companies to international supply chains, enabling them to move up the value chain."

Dağlıoğlu emphasized that Türkiye aims to soon be among the high-income countries by exceeding $15,000 per capita national income.

"Our share of international direct investment in the world is currently around 1 percent. We want to increase it to 1.5 percent," he added.

Speaking at the same event, Humberto Lopez, World Bank country director for Türkiye, said that electricity production and carbon reduction are very important and that there is very good news in the case of Türkiye in this regard.

Lopez stated that Türkiye is currently using 55 percent renewable energy.

“This is a very good thing. There is a very good picture not only among developing countries, but all over the world,” he said.

“At the same time, some effort is needed on the production side. Because the private sector has to make an effort. They have to adapt to this new situation. Otherwise, you cannot be competitive, and you have to be competitive so that this adaptation can take place.”

Engin Aksoy, president of YASED, stated that international investors contribute to the sustainable development of Türkiye by investing in all sectors of the economy, supporting production, exports and employment.

"Continuing the fight against inflation within the framework of a rational policy with the planned roadmap and eliminating the uncertainties in the pricing mechanisms as planned are also of great importance in restoring confidence in our country," he said.