More Japanese companies eye Turkey – ISPAT President

Aksam – Having staged seminars and meetings on Turkey’s investment opportunities for the Japanese business community in their home country, the Investment Support and Promotion Agency of Turkey (ISPAT) returns home with good tidings.

Turkey and Japan, whose bilateral ties reached a new milestone with the Japanese Prime Minister Shinzo Abe’s visit to Turkey in May during which a nuclear power plant project worth USD 22 billion was signed, have already been cooperating on a number of fields, among which are automotive, energy, infrastructure and finance.

Tasked with promoting Turkey’s investment climate and opportunities abroad, ISPAT’s high level visit to Japan is forecasted to bring more investments from the Far Eastern nation to the fast emerging Turkey as hundreds of Japanese companies looking to expand their overseas operations attended the seminar, which was jointly organized by ISPAT, Bank of Tokyo-Mitsubishi UFJ (BTMU) and Japan Cooperation Center for the Middle East (JCCME) in the Japanese capital, Tokyo. The ISPAT team also held one-on-one meetings with the executives of Japan’s leading multinational companies.

“We are about to break the news of new Japanese investments in Turkey.” the ISPAT President Ilker Ayci told to the press on his return. “Turkey offers an ideal investment location for the Japanese companies with a fast growing economy, favorable demographics and a key geographical position. Meetings with Japanese companies were positive and high-yielding in this regard. We will announce new projects as they materialize. These include both new and expansion investments.” Ayci remarked.

Turkey saw a stellar increase in Japanese investments in recent years. In close cooperation with ISPAT, three of Japan’s largest lenders, BTMU, Sumitomo Mitsui Banking Corp (SMBC) and Mizuho Corporate Bank, have made their entries into the country last year while Sumitomo Rubber Industries, also with ISPAT assistance, is building a tire factory in Central Anatolia for USD 500 million. Japanese car makers Toyota and Honda have been in production in Turkey for decades.

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