7/9/2008

Gulf News: Turkey's progress calls for attention

Gulf News - Investors in the Gulf are becoming more aware of what Turkey can offer in terms of diversifying their portfolios. It was recently estimated that the amount of direct investment attracted by Turkey will reach $30 billion in 2008, and particularly countries in the Middle East region will increase their shares in these investments.A number of Gulf institutions have already entered the market and others have identified the country as part of their growth plans. There are several opportunities in Turkey at the moment: macroeconomic transformation, tight fiscal discipline, European Union anchoring and high interest rates. The Turkish economy is currently booming, its GDP has risen by 122% in four years. This growth is driven by several factors: a young, dynamic and qualified population; strategic location at the crossroads of Europe, Central Asia and the Middle East; an anchoring alongside the European Union, lending support and international credibility; and the country is also beginning to reap the benefits of reforms undertaken after the major financial crisis in 2001.
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