Türkiye expects more foreign investment soon, says VP

ANKARA

Türkiye has entered a phase where international companies are unveiling their investment decisions in the country, and more "good news" is expected to follow soon, according to Vice President Cevdet Yılmaz.

Speaking at a meeting of the Investment Environment Improvement Coordination Council (YOİKK) on Aug. 13, Yılmaz noted that issues related to improving the investment environment will be on the agenda both at the technical level and at the level of parliamentary work in the fall period, adding that the goal is to "make Türkiye an investment base."

"Amendments to the competition law and the climate change bill are among the priority issues that will be put on the agenda of the new parliamentary term," Yılmaz said at the meeting, which was also attended by Justice Minister Yılmaz Tunç, Industry Minister Mehmet Fatih Kacır, Labor Minister Vedat Işıkhan, Environment, Urbanization and Climate Change Minister Murat Kurum, Finance Minister Mehmet Şimşek, Trade Minister Ömer Bolat, Transportation Minister Abdulkadir Uraloğlu and other officials.

"Another issue we will put on parliament's agenda in the new legislative term is electronic notification, which will speed up judicial procedures," Yılmaz added.

"The draft prepared on this issue has reached a certain stage. In addition, the work on the administrative and technical infrastructure of the TechVisa program, which was created to attract skilled workers to our country, has reached its final stage."

Programs and incentives implemented recently have led to international companies announcing new investments in Türkiye, and more announcements are expected soon, the vice president said.

“In this context, we have invited senior executives from the world's leading investment firms to our Investment Advisory Council meeting, which will be chaired by our President [Recep Tayyip Erdoğan] on Sept. 28,” Yılmaz said.

“At this meeting, we will hear the priorities of multinational investors and ensure that an international perspective is reflected in our macro-level policies. Through these high-level meetings, we hope that investors from around the world will make an increasing number of qualified direct investments in our country. In an environment where the global supply chain is being reshaped, we aim to make Türkiye a higher priority in the investment decisions of multinational companies in order to sustainably reduce the current account deficit.”

A written statement issued after the meeting said that the council “received the opinions and evaluations of the members of the council on the MTP [Middle Term Program] updated for the period 2025-2027 in order to create a realistic and balanced framework with internal consistency that can meet the needs of all segments of society."

“The work within the framework of the YOİKK Action Plan, which is determined in a participatory manner in accordance with the priorities of the business community and focuses on improving investment processes, reducing the current account deficit, accelerating the dual transformation, strengthening the relationship between vocational training and employment and facilitating the export of goods and services, will continue with determination,” the statement read.