2/6/2009

Turkey still a safe haven for investors despite crisis

Today’s Zaman - Ayse Yuksel, Head of the Turkey, Middle East and North Africa (Turkey/MENA) desk at Chadbourne and Parke, an international full-service law firm, has said Turkey is continuing to attract foreign investors despite the ongoing global financial crisis. "When we compare the current situation in Turkey amidst the crisis, it is in far better shape than the US and the European countries" she said, speaking to the Anatolia news agency in New York. Yuksel explained that this year the amount of foreign direct investment (FDI) flowing into Turkey is expected to reach USD 8 billion. "In 2010, this figure is expected to reach USD 11 billion" she added, reflecting a positive outlook despite the pessimistic atmosphere in global markets. Stressing that foreign entrepreneurs are primarily interested in energy and health infrastructure investment in Turkey, she said this is encouraging for the country. She also said companies and banks in Turkey are well-prepared for the crisis and that Turkey has less external debt than many countries. "Turkey has fewer mortgage and hedge funds than the European and the US markets; this also an advantage for the country" she added.