Investment Office President A. Burak Dağlıoğlu attended the Future Investment Initiative (FII) that took place in Riyadh, Saudi Arabia, over October 24-26.
For its 7th meet, the FII gathered the world's leading investors, business leaders, policymakers, and inventors under the theme “The New Compass" to discover new markets, navigate new frontiers of economic growth and prosperity, and develop new strategies for understanding the greatest challenges and opportunities in the area.
Dağlıoğlu was featured as a panelist during the session titled “The Coming Investment Mandate" along with the Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih, the Indian Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles Piyush Goyal, the Finnish Minister of Development Cooperation and Foreign Trade Ville Tavio, and the Moroccan Minister-delegate for Investment, Convergence, and Policy Evaluation Mohcine Jazouli.
Dağlıoğlu gave an overview on the role of governmental investment bodies in fostering domestic economic vitality. He touched on the year-over-year growth of FDI in tech startups in Türkiye that act as engines for economic growth, creating value and driving innovation with an impact on every aspect of our lives. “Ten years ago, early-stage investments were only double digits. Five years ago, they became triple digits and two years ago, they surpassed USD 1 billion. Startups make up one-third of the FDI inflows in Türkiye over the past two years", he said, emphasizing the pioneering role of the startup ecosystem as the driving force behind the entire FDI landscape.
Dağlıoğlu also pointed to supply chain re-structuring and technology entrepreneurship as the main drivers of Türkiye's investment security. He explained the variables that influence the MNC's decisions to choose Türkiye as their next investment destination, and how Türkiye-based companies integrate into and move up the Global Value Chains.
Finally, Dağlıoğlu commented on how IPAs collaborate with and complement each other, regardless of their competitive nature, including Türkiye and Saudi Arabia's collective efforts to boost bilateral investments.
Meanwhile, Minister of Treasury and Finance Mehmet Şimşek attended the “Balancing the Meaning of Finance" session of the Future Investment Initiative on its second day, providing insight into Türkiye's new monetary policies. Şimşek explained that Türkiye is back on track with a new economic program and team, aiming to break down inflation to a single digit, and added, “The adoption of sound policies will foster confidence, resulting in FDI inflows into Türkiye."
"It will be misplaced to compare policy rates to inflation over the past twelve months. What matters is how the policy rate compares to inflation expectations for the next twelve months. In that sense, the gap is much narrower, implying that the work is not yet finished, that we still have some way to go, but we are on the right track", said Minister Şimşek.