Türkiye on Friday revealed a comprehensive action plan aimed at streamlining legislation and administrative processes concerning investments to create tangible and lasting effects in the short term.

The 57-point plan, unveiled by the Investment Environment Improvement Coordination Council (YOIKK), focuses on proposals for reforms intended to facilitate the legislation, administrative, and judicial processes related to the investment environment.

Chaired by Vice President Cevdet Yılmaz, the council said it aims to complete most of the legal and administrative regulation and technical work outlined in the plan by the end of 2024, thereby creating concrete and enduring impacts on the investment climate.

According to YOIKK, the plan concentrates on proposals that address reducing the current account deficit, facilitating the export of goods and services, responding to financing needs, and enhancing employment opportunities and workforce qualifications.

The statement also said that "necessary preparations are being completed before submission to Parliament" for legislative needs in areas such as competition and climate included in the plan.

Among the transformation areas outlined in the action plan are simplifying and facilitating legislation, administrative, and judicial processes related to the investment environment, developing investment site opportunities primarily for industry, and providing target-oriented and selective investment financing.

Furthermore, the plan highlights the support for the entrepreneurship ecosystem, expanding communication and logistics connections, accelerating digital and green transformation in the industry, implementing practices such as emission trading systems and carbon regulation, addressing the needs of vocational education and labor markets, aligning the education system and other public policies to meet workforce demands.

Other key points highlighted in the plan include: