Turkey expects sharp rise in investments in second half of year
Chairperson of Turkey's Investment Office Ahmet Burak Dağlıoğlu said investments in Turkey will see a rapid increase in the second half of 2020 with the coronavirus normalization period.
Speaking to reporters, Dağlıoğlu said the pandemic accelerated developments in some fields, including digitalization, life sciences, e-mobility and electric vehicle technologies.
He added that Turkey is also working to complete its transformation in these areas. "I believe we are entering a productive era in terms of investments," he said.
The total amount of foreign direct investment (FDI) in Turkey has reached $219 billion between 2003 and April 2020.
The Investment Office enabled 224 investment projects in the country with a total value of $23 billion between 2007 and 2019. Around 48,000 jobs were created within the scope of these projects.
Dağlıoğlu went on to say that investors are trying to use the new opportunities in the post-pandemic period and that all corporations are working to revise their strategies, plans, supply chains and priorities.
"They indicate that different country's policies regarding support to investors during the coronavirus pandemic are important for their future decisions. In this context, we are doing well compared to other countries," he said.
Dağlıoğlu added that Turkey is far beyond the capacity of competing countries in some sectors, such as automotive.
"We are working on some significant projects. Some of them are related to e-mobility. We hope to have some good news in the second half of this year," he said.