10/31/2013

Turkey, a crisis-proof economy galloping forward

IHA – Turkey’s remarkable economic accomplishments in the last decade and successful tackling of the global financial crisis while earning the “safe haven” status for international investors are among the main topics of the Fifth Izmir Economic Congress themed “Turkish Economy in the light of the Global Economic Restructuring” taking place in the country’s third largest city on the Aegean coast between October 31 and November 1.


Sharing his views in a panel held on the first day of the event, Ilker Ayci, the head of the country’s official investment promotion agency, said that Turkey has taken a giant leap forward in many fields over the past decade and has proven its worth as a crisis-proof economy.


“Turkey’s large economy, entrepreneurial skill base, industrial diversity, developed infrastructure, high-quality labor force and strong commercial, political and cultural ties with the surrounding countries present enormous potential for foreign investors” Ayci said in answer to a question on the current status of Turkey’s investment environment. “Despite these advantages, there is still work to be done in fulfilling our potential. The Investment Support and Promotion Agency of Turkey (ISPAT) is working hard in this regard; promoting Turkey’s investment environment as well as various business and partnership opportunities in our country.” Ayci noted.


Highlighting the success of the government’s privatization program and measures taken during the last decade to further improve the country’s investment environment, Ayci said that the Turkish economy had performed remarkably well during the global financial crisis.


Turkey emerged as one of the fastest growing economies from the global financial crisis, attaining growth rates of 9.2 and 8.5 percent for the years 2010 and 2011, respectively. The country has grown 2.2 percent in 2012 and is forecasted to become the fastest growing nation in OECD with an average annual growth rate of 5.2 percent in the 2012-2017 period.

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