Turkey safe for foreign investors according to Deputy Prime Minister

  Date posted: 11th of May 2012

Turkish Deputy Prime Minister, Ali Babacan, has stated that Turkey is a safe haven for foreign investors to put their money and enjoy huge profits.

Speaking at the first Turkish-German CEO Forum in Berlin, Babacan said that foreign companies who have invested money in to Turkey are now reaping the rewards as potential profits are maximised in Turkey. Babacan said: “The government’s policy of building confidence on matters relating to fiscal discipline has led to a very strong financial system in Turkey.”

Babacan also noted the fact that no Turkish bank has really suffered any enormous difficulty during the global economic crisis while banks around the world are crumbling. Babacan said: “Turkey is the only OECD member country that has not resorted to bank bailouts. Foreign companies investing in today’s Turkey are proving to be highly successful.”

Babacan also talked about the problems that the current world is facing with the economic crisis engulfing many countries, and compared that with the situation in Turkey at the moment, Babacan said: “Turkey’s earlier public finance and banking reforms made it more resilient to the global economic contraction in 2009. Turkey’s growth rates following the crisis are among the world’s highest; 9 percent in 2010 and a predicted 7 percent in 2011.” One thing is for sure, while the rest of the world faces a bleak future, Turkey is looking to onwards and upwards as a growing power nation.

The Deputy Prime Minister also compared the poor employment situation in the economic crisis stricken countries with the employment situation in flourishing Turkey. Babacan said: “Turkey has created 3 million jobs since 2009 and unemployment is down by 4 percent from its 2009 level.” Countries such as Spain and Italy are struggling to finance and find employment opportunities for people situated in these countries, these previously investment rich countries are now struggling as poor financial decisions take its toll on these nations. Employment in Turkey is rising and so is the investment market.