Foreign investors look to implement 150 projects worth $3 billion in Turkey

Published 21.12.2018 21:25
Updated 22.12.2018 08:00

The Badeer 1st Business World and Investment Opportunities Summit has started to bear fruits just weeks after it was held in Turkey's most-populated city Istanbul, as high-level foreign investors who attended the event are said to have been aiming to carry out major investments in Turkey.

Nearly 300 foreign investors from around 50 countries came together with domestic investors at the investment summit on Dec. 5-6 to evaluate opportunities in sectors such as industry, energy, tourism, construction, defense, advanced technology, agriculture, livestock and health.Muhenned Al Masri, the chairman of the executive council of Dubai-based Damsco Group, said the investors who attended the Badeer I. Business World and Investment Opportunities Summit aim to implement 150 projects valued at around $3 billion in Turkey.

Turkey is offering a number of opportunities to foreign investors, Al Masri was cited as saying by Anadolu Agency (AA), adding that as Damsco Group, they want to evaluate these opportunities.

In Turkey, there is a high potential particularly in the fields of trade, finance, agriculture, industry and technology, Al Masri added, indicating that they appreciate the support and trust the Turkish government provides to the international investors.

Pointing to the interest of Arab investors in Turkey, he said the direct communication between the two sides has established a very stable and favorable environment, particularly in terms of investments in the area of trade.

The-two day event was held under the auspices of the Trade Ministry and with the support of the Treasury and Finance Ministry, the Presidential Investment Office, the Industry and Technology Ministry and the Culture and Tourism Ministry.

Within the scope of the summit, foreign investors and domestic firms assembled to establish companies, partnership agreements, corporate acquisitions and project sharing.

Damsco Group has undertaken significant projects in Syria, Iraq and the United Arab Emirates (UAE) and had entered the Turkish market in 2017 to make investment plans, Al Masri noted. He also said they are closely following the economic developments in Turkey. "We are currently operating in various sectors such as energy, construction, food, finance, mining and technology. We would like to take advantage from the opportunities here by moving our experience to Turkey. In this context, we are preparing investment plans in these areas and we aim to implement these investments as soon as possible," Al Masri said.

Turkey has attracted over $200 billion in foreign direct investment since 2002, official figures show.

The country attracted nearly $7 billion in foreign direct investment in the first eight months of this year and the Presidential Investment Office expects it to reach over $11 billion by the end of the year.

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