The Arab and Russian investments in Turkey have witnessed a remarkable increase over the past two years, in return for the decline of Western investments, said Arda Armot, head of the Turkish Prime Minister’s Investment Promotion and Promotion Agency.
Armut pointed out that Turkey is working to diversify the sources of foreign investments by attracting serious investments from countries in the Middle East, Russia and some Asian countries, pointing out that diversifying the sources of foreign investments will contribute to reducing Turkey’s vulnerability to global crises and poor regional security conditions.
It is clear that Arab and Gulf private investors are very interested in the facilities and investment incentives offered by Turkey because they facilitate their economic activities both internally and externally.
Gulf investors have not stopped making business trips, exploring and investing in the Turkish market during the past period, even those where the country has experienced a failed coup attempt.
The Arab countries showed solidarity and standing with Turkey after the failed coup attempt in July 2016.
The Turkish economy quickly recovered from the consequences of the failed attempt, ranking in the World Bank’s Business Doing Business 2018 ranking as the world’s 60th out of 190 economies.
“The investments of the Arab world in Turkey reflect his love for our country and confirm that he is on our side,” according to the representative of the Arab Gulf states in the Turkish government’s investment support and definition agency, Mustapha Gokso.
The Investment Support Agency promotes Turkish companies in the Gulf States and works to hold meetings between businessmen active in the same sector from both sides.
In an interview with the Anatolian News Agency, Gokso says Gulf investors want to be more involved in Turkey’s domestic markets and accept Turkish products as a substitute for products they import from other countries.
“This is a great opportunity for us, and we are trying to make Turkey an export and investment base, because it has all the investment opportunities.”
Incentives such as decorations on a piece of candy, if the candy is good then the decoration has meaning, but if the piece of candy is corrupt, the decoration is meaningless, according to the Turkish official.
Recently, Turkish President Recep Tayyip Erdogan said his country would achieve high economic growth in 2018 and would keep its door open to international investors.
Erdogan’s comments came after the Turkish economy recorded a growth rate of 7.4% in 2017, contrary to expectations of many international financial institutions. The growth of the Turkish economy last year was driven by the G-20 countries, while it was second only to the OECD and the European Union.
The Turkish economy has grown three times as fast as the EU and has surpassed the fastest-growing economies such as China and India.