Business world to keep producing for a stronger post-coup Turkey


Turkey showed its commitment to democracy with countrywide solidarity and a strong stance against the July 15 failed coup attempt, enabling the Turkish economy to perform even stronger

Acting in unity and solidarity in a demonstration of its commitment to democratic, constitutional order and the rule of law, Turkey has successfully thwarted the atrocious attacks of the July 15 failed coup attempt that targeted the country's economy and threatened economic collapse in an attack that was perpetrated by Gülenist Terror Group (FETÖ) terrorists.

The Turkish state, with all of its civilians, political leaders, businesspersons and civil servants representing numerous organizations, did not cower in the face of the treacherous and deplorable putsch attempt, continuing to move forward stronger than ever by embracing its economic and social wounds and making a swift recovery in a display of solidarity and strength.

The business world, like all other sectors of Turkey's economy, has maintained its honorable stance in a display of bravery since the attempted coup on July 15.

'Coup attempt allowed Turkey to become unified nation'

In a statement released in honor of the one-year anniversary of the heinous coup attempt, the Foreign Economic Relations Board (DEIK) indicated that the economic dimension of the coup attempt actually enabled the country to become unified as a single entity with one heart and one body, as a model representative for the international business world.

The statement read, "We [DEIK] are intertwined with nearly every corner of the world. Therefore, DEIK has served as the leading institution that can best explain this coup attempt to foreign countries in order to prevent our country's economy from suffering any damage as a result of this treacherous incident. On Monday, July 18, the first company working day after the coup attempt, DEIK's first structural task was to convey the message that business in Turkey was continuing as usual - 'as it should' - in letters sent to our counter wings."

Indicating that DEIK held a consultation meeting with the participation of all Business Council presidents and Executive Board members on July 21, 2016, less than a week after the coup attempt, the statement also read that DEIK created an 11-point plan titled the "DEIK Emergency Action Plan." The statement indicated: "Within the scope of 'economic mobilization' announced in the scope of our 'Action Plan,' we asked local Business Councils to visit the countries they were responsible for in person, sharing the real facts about the coup in Turkey and conveying the message of what happened on July 15, explaining how the Turkish people fought to protect their democracy and economy during this event and the smooth operation of business in Turkey despite all these incidents with our counterparts, public institutions, media organizations and think tanks."

It was also said in the statement that the unique mobilization happening all around the world will continue in the future, as well.

'Power union in real estate for stronger Turkey' campaign

"As GYODER, the umbrella organization of the real estate sector, we launched the 'Power Union' campaigns following the July 15 coup attempt with aims to contribute to the sector's growth and strength while providing our country with a stronger economy," Association of Real Estate and Real Estate Investment Companies (GYODER) Chairman Dr. Feyzullah Yetgin said.

Moreover, Yetgin also said that GYODER launched the "Power Union in Real Estate for a Stronger Turkey" campaign in order to support the sector and economic growth, indicating it was very effective in the sales chart of 2016.

"Within the scope of the campaign, a turnover of TL 2.6 billion ($.73 billion) was achieved with the sales of about 3,000 residences and 400 offices," he added.

"In this process, the Turkish economy grew by 5 percent in the first quarter of 2017, showing great success. In the same period, the real estate sector kept contributing to our country's growth and employment. At this point, as the second step in the scope of the 'Power Union,' we launched a campaign of 'low mortgage interest rates with a 20-year term.' With this campaign, a total of 3,400 residences and 185 offices were sold in 109 projects of GYODER Member-41 companies, resulting in a turnover of approximately TL 3.3 billion. This unity and the record results we obtained in a short time could leave their mark on the history of both the country and the sector. Achievement of this magnitude despite all the problems was, in fact, a reflection of the confidence in our country and the real estate sector," said Yetgin.

Business world to keep producing for 'stronger Turkey'

In its statement regarding the anniversary of July 15, the Industrialists' and Businessmen's Association (MÜSIAD), one of the most prominent nongovernmental organizations (NGOs) both in Turkey and abroad, said that when the economic damage of the trecherous coup attempt is closely examined, the magnitude of the damage can be better understood and it becomes clear that those who wanted to veer Turkey away from its goals tried to do so but Turkey resisted the attempt.

"The U.S. dollar, which stood at TL 2.90 before the coup attempt, rose to the level of TL 3.4 with an increase of 17 percent on the first day after the coup attempt. The weekly loss on the stock exchange was 13.4 percent. On the other hand, the total market value of companies traded on the stock exchange in this process depreciated by TL 78 billion. Losses in the tourism sector throughout the entire year reached TL 9.4 billion. If the treacherous coup plot had been successful, the Turkish economy would have shrunk by 25 percent considering studies conducted during previous coup d'états. This means that Turkey would have gone back 10 years; meaning that all the gains obtained through hard work and determination would have turned to ashes. Fortunately, the traitors failed in both their coup attempt and their plans to force Turkey into trouble," the statement read, adding that the Turkish business world will continue to produce and grow for a stronger Turkey.

'We will continue to demonstrate our beliefs'

"Today, just like yesterday, we continue to share our views and experiences about what needs to be done in order to improve the investment climate in Turkey and prevent it from being adversely affected by the events. We also continue to work with the aim of further investments and more employment. We believe in Turkey's future and we will continue to demonstrate this belief by preserving our investment perspective," the International Investors Association's (YASED) said in a press release regarding the July 15 coup attempt.

'Barriers will be overcomed by joining forces'

"The way for the business world to direct its power to production and investment without slowing down, for politicians to be able create the right politics and for the bureaucratic barriers blocking growth and development to be overcome quickly runs through joining forces," the Turkish Enterprise and Business Confederation (TÜRKONFED) said in its statement.

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