Turkish deputy PM: We need to work harder to attract investors
by Daily Sabah
ISTANBULFeb 01, 2016 - 12:00 am GMT+3
by Daily Sabah
Feb 01, 2016 12:00 am
The deputy prime minister in charge of the economy, Mehmet Şimşek, said that in the past year, $540 billion in capital was created by developing countries and that, considering these numbers; the government needs to work harder to draw foreign investors to Turkey to boost the country's financial sector and attract a qualified labor force.
Speaking at a meeting of the Justice and Development Party's (AK Party) Şehitkamil District Advisory Committee at the Şehitkamil Congress Center in the province of Gaziantep, Şimşek said that Turkey is now on the right track in terms of stability; especially after the elections on Nov. 1, but noted that everyone must strive harder to ensure a better future for the country. Noting that the world has seen rough economic times since the capital generated by developing countries last year was around $540 billion, Şimşek said that Turkey needs to maintain stable reforms, overcome regional difficulties and eradicate terror.
The deputy prime minister underlined that he will be continuing his campaign in the province of Batman after leaving Gaziantep; a region he says is in dire need of a political presence and reassurance in the wake of increasing PKK terror attacks in the province.
Touching on the same issue last week, Şimşek said Turkey has a strong history and the rapid realization of promised reforms can lead to a significant flow of trusts and funds into the country. In a televised interview, Şimşek answered questions about the recent World Economic Forum (WEF) in Davos, with the objective of telling "Turkey's story." "We will see the output of this story later," he said. Şimşek also stressed that Turkey has faced internal and external uncertainty since mid-2013, adding that the Gezi Park protests and elections that came one after another forced many investors to postpone investment plans. According to Şimşek, nearly $15 billion flowed out of Turkey last year. He also addressed the real sector, saying that global direct investments remain strong. Even though the investment goals of 2007 were not achieved, the sector saw nearly $14 billion in direct investments last year. "This is a small figure when the sector's economic potential is considered. It should easily exceed anywhere from $40 billion and $50 billion," he added.