Türkiye is positioned to become a technology and investment hub attracting foreign capital, as regional and global economic developments are driving a shift in that direction, according to a council chair at a major Turkish business body on Monday.

"On the route of foreign capital, Türkiye is in a position to become a natural technology and investment base. For Istanbul to turn into a finance and technology center, the public and private sectors need to act together," said Erdem Erkul, the head of the Digital Technologies Business Council at Foreign Economic Relations Board (DEIK).

"With joint investment models and new generation fund structures, Türkiye can attract this capital," he told Anadolu Agency (AA).

In the statement, he pointed out that on a global scale, capital, entrepreneurs, and technological infrastructure are rapidly relocating.

Explaining that the critical situation created, especially in the U.S., Europe, and the Gulf line, has led to a new economic equation, Erkul said that this contains both risks and new opportunities for countries involved in global competition.

Moreover, he emphasized that competition now occurs not only between companies but also between cities, countries, and ecosystems. He noted that due to recent accelerated geopolitical fractures, changes in global trade balances, and the effects of the new artificial intelligence-centered economic order, Türkiye's position needs to be redefined.

He went on to say that Türkiye is in a process not only as a country that regulates but also as a center attracting more entrepreneurs, gathering capital, and producing technology.

"Whoever enables company establishment faster, provides a stronger digital infrastructure, and gives more confidence to entrepreneurs is the winner," he maintained.

In this context, Erkul opined that it is "important" for Türkiye to simplify its entrepreneurship and technology policies.

"From company establishment to the tax system, from the investment environment to the international legal infrastructure, a new approach has become obligatory in many areas. With a fully digital, cross-border-compliant, and multilingual company establishment infrastructure, Türkiye can become one of the top choices for global entrepreneurs," he further said.

Incentive models

Erkul also highlighted that Türkiye should move beyond its traditional incentive models and establish an entrepreneur-friendly, predictable, and competitive structure.

He pointed out that regulations related to stock options, company sales processes, and income tax could transform the country into a regional attraction center, also adding that creating a fast and reliable visa mechanism for entrepreneurs is also a key part of this transformation.

Additionally, he also stated that artificial intelligence and data center investments have become the core determinants of the new economy.

He emphasized that the new form of capital is computing power and noted that it is not possible to attract entrepreneurs without establishing a data center or building a strong artificial intelligence infrastructure.

Erkul also suggested that Türkiye needs to reconsider its energy, infrastructure, and incentive policies in this area.

"Establishing a strong national cloud-based artificial intelligence ecosystem is of strategic importance. Türkiye needs to be a center not just for starting enterprises but also for scaling them and enabling global exits," he noted.

"Deepening the capital markets, integrating with international stock exchanges, and strengthening the legal infrastructure to increase investor confidence are critically important," he added.

'New economic order'

Furthermore, Erkul said that the world "is entering a new economic order," conveying that in this order, "speed, scale, and trust are the three most critical factors."

"If Türkiye takes the right steps, it can achieve regional hub status in a very short time," he added.

Erkul also said that, as the Digital Technologies Business Council, they continue to work with the public, private sector, and international stakeholders to implement this approach that will accelerate Türkiye's technology-focused economic transformation.

Stating that as the council, they are working for Türkiye to become the most important part of the global artificial intelligence infrastructure, Erkul concluded his remarks by saying: "As Türkiye, we need to become the production, data, energy, and access corridor of the artificial intelligence era."

"As the business world, we are ready to fulfill our responsibilities."