Dünya/Aksam – The members of the World Association of Investment Promotion Agencies (WAIPA) voted to remain under Turkish leadership for the next two years. The formation of a new steering committee and the presidential election of the umbrella organization for more than 170 investment promotion agencies (IPA) from all over the world took place at the World Investment Conference 2015, held in Milan, Italy, where issues related to foreign direct investments (FDI) and investment promotion practices were brought to the table with the attendance of heads of financial institutions, some leading political figures, private sector leaders, prominent economists and researchers.
President of WAIPA and the Investment Support Promotion Agency of Turkey (ISPAT) Arda Ermut stated that WAIPA members’ confidence in Turkey’s leadership was an honor, and that they were working to bolster WAIPA’s status as a reference point of FDI globally.
“Since taking the helm at WAIPA in 2014, ISPAT has concentrated its efforts on the coordination of member IPAs to make WAIPA a more effective and influential organization,” Ermut said at the sidelines of the conference, adding that the relocation of WAIPA headquarters from Geneva to Istanbul contributed to the organization’s image and reputation, as it reflected the global economic shift from West to East.
IPAs of Italy and Azerbaijan will serve as Vice Presidents during ISPAT’s second term as the President.
Turkey’s investment appeal unaffected by parliamentary elections
Speaking of Turkey’s performance in drawing foreign investments, the ISPAT President said that the uncertainty following the general elections had not deterred foreign investors and that the country’s investment appeal was as strong as ever.
“Foreign investors tend to think long term, and economic stability is the most important factor in their decision-making process. Turkey continues to attract foreign investors even during times of turmoil among some of its neighbors and economic downturn in its key export markets. ISPAT is currently working on 191 projects with a total investment value of USD 17.3 billion. As of the end of 2015, we expect to reach at least last year’s total of USD 12.5 billion,” he noted.