8/1/2008

Investment agency takes action after closure case verdict

Today’s Zaman - Following the decision of the Constitutional Court not to shut down the ruling Justice and Development Party (AKP), the Investment Support and Promotion Agency of Turkey (ISPAT) is preparing to accept new proposals from 20 firms that had previously suspended investments because of the lawsuit against the AKP. Speaking to Today's Zaman yesterday, ISPAT President Alpaslan Korkmaz stated that the barriers before Turkey were removed with the court's decision. "A number of mid and large-size firms had suspended their investments for the past two to three months. Now we can confidently ask these firms to resume their investments in Turkey because the court ruled against the closure of the ruling party." He noted that these firms are expected to bring in roughly $3 billion in investment. According to Korkmaz, who noted that investors became hesitant after the filing of the closure case, foreign economic actors are still confident that reforms will be completed in the mid and long terms. He said ISPAT would announce additional investments in the following days. "We are currently engaged in talks with a number of firms. A number of firms whose names cannot be disclosed now will make investments," he added. Korkmaz stated that ISPAT had achieved important success in a very short period of time and said, "There is no other agency in the world in which 10 languages are fluently spoken." ISPAT provides service through an international network composed of 30 professionals who have strong experience in international business, as well as representatives based in the US, England, France, Italy, Russia, Israel, Gulf countries, Kazakhstan, China, India and Japan.
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