‘In 2008 Turkey guarantees $10 bln in FDI, privatizations excluded’

Today’s Zaman - Turkey will receive at least $10 billion in foreign direct investment (FDI) this year, privatizations notwithstanding, Finance Minister Kemal Unakitan has said. Speaking at a conference titled "Global Financial Markets and Turkish Economy", Unakitan said there was no possibility of avoiding the current global financial turmoil but added that Turkey has been taking the necessary measures to withstand the period with minimal losses. "In 2008, even if no privatizations are carried out, Turkey still has a guaranteed $10 billion in foreign investment. And as our economy gets stronger, more money will follow," Unakitan said. Several privatizations are scheduled to get under way in 2008, including the transfer of management of major bridges and highways, electricity grids and a stake in partly privatized lender Halkbank.