Türkiye has received foreign direct investments (FDI) worth over $250 billion (TL 6.9 trillion) since 2003, the head of the Presidency's Investment Office said Friday, conveying the target of attracting investors and lifting the country's economic activities to a higher level in the upcoming period.
"The targets set for the coming period and our structural reform agenda are attracting investors," Ahmet Burak Dağlıoğlu told Anadolu Agency's Finance Desk.
Dağlıoğlu said before 2003, Türkiye received an average of 0.2% of the world's investments, but in the period after 2003, it attracted around 1% of the world's investments on average annually.
"2003 is a critical year for international investments and political stability provides a basis for this," he underlined.
"Europe's share in total foreign direct investments was 68% while it was 8% from the United States, 7% from Gulf countries and 14% from other Asian countries," he said.
He also pointed out that finance has a significant share when looking at the sectoral distribution of investments, and it is followed by manufacturing. He further noted that his office works to raise Türkiye's image to the level of investment grade and provides free consultancy services to international companies in Türkiye.
Noting that direct investments are important for Türkiye to be among the world's top 10 economies, he said, "The important agenda of our country is to fight the current account deficit, to create employment and to ensure technological transformation."
"We are chasing investments that will take the economic activities of our country to a higher level," he added.
Asia and Gulf's interest
Noting that Türkiye is a fast-growing country, he said that about one-third of the economic growth in the first half of this year came from investments.
"Türkiye is an export-intensive country; a slowdown in demand in target countries can directly affect the investment programs of companies. In the long run, we can foresee that the share of investment in Türkiye's growth will be high," he said.
He said that with the medium-term program unveiled last month, "we have made a projection that attracts the attention of investors."
Investors are particularly interested in the targets set for the coming period and the country's structural reform agenda is also important for investors, he stressed.
"Türkiye stands out as the most important country in the search for alternative production points for Asian countries as the reshaping of the supply chain with the pandemic and the idea of a geography closer to Europe are critical for them," Dağlıoğlu said.
Pointing out that many meetings were held with the business world during President Recep Tayyip Erdoğan's visits to the U.S. and the Gulf, he said: "We see that Gulf countries have a great interest in Türkiye, of course, their investment strategies may differ."
"We anticipate that European companies will continue to invest in the coming period," he added.
Regarding Türkiye's energy investments, Dağlıoğlu said with the renewable energy policies implemented since 2006, the country's installed capacity has increased considerably.
He also underlined that the Zero Waste Project is an area that attracts a lot of attention from investors.
"With these policies developed by Türkiye, the collection of waste and its introduction into the circular economy directly affects the investment market."
Türkiye, Dağlıoğlu said, is "positively differentiated in the geopolitical context with its strong political leadership, rapid reaction to developments in the world, policy development and implementation, and we see this clearly from investors."
Pointing out that sustainability, digitalization and geopolitical developments are reshaping the supply chain, he said: "The location of geography is important, but location alone is not enough. What is important here is what we have achieved in the strategic location."
"In 20 years, the investments we have made in infrastructure and superstructure, including logistics, energy, health, education, digital and digital infrastructure, have enabled us to become a central place," he emphasized.
"Türkiye's policies have enabled the integration of sectors and companies into the global supply chain," he added.
He also touched upon Türkiye's green policies and sustainability agenda, noting that investors prefer the country for sustainable investments. Dağlıoğlu also said that the Investment Office had organized various events to mark the 100th anniversary of the Turkish republic in several cities in Europe and Southeast Asia, noting they plan to organize new events in European and Gulf countries soon.