Published On: Sat, Nov 2nd, 2019

How can Turkey become a country to attract foreign direct investments again?



Turkey, until recently, was known as an attractive and favorable country for FDI (foreign direct investments). But the economic and political turbulences this country had to go through recently has severely undermined this advantage. However, experts claim that Turkey can become an environment to attract direct investments again by accelerating the reform agenda and taking steps to boost confidence. Experts emphasize below steps are required to accomplish said mission.

It is extremely important for young people to receive qualified and appropriate education according to the requirements of the age and to prepare for the professions of the future, strengthening their entrepreneurial potential. The good news is that information can be reached quickly and is available on many various platforms, internet to be in the first place.

It is seen that the acceleration to be recorded in the digitalization of production and service processes is the most determining component of the competitive advantage. When this whole process is evaluated, it is seen that it is necessary to integrate the technology into the production system and to produce the technology, locally.

On the other hand, education, tax and labor market reforms are crucial for sustainable quality growth. It goes without saying judicial reform is of priority, upgrading specialization and speed in the judiciary to be in the first place.

In order to increase investments and ensure confidence in the future, non-performing loans should be cleared from the system – not to forget such problems are observed in developing (and developed) countries such as Turkey.

Meanwhile, Turkey has been lucky to be allowed extra time to deal with its weaknesses thanks to the monetary easing process currently prevailing in the US and Europe, again. This has provided an opportunity to ease the debt burden and reduce its cost to a certain extent.

Turkey should continue the fight against inflation and ensure the price stability. This country can create a favorable investment environment again by accelerating the reform agenda and taking steps to increase confidence. The role of local governments in regional development and the improvement of the investment climate throughout the country is crucial.

If Turkey succeeds to become a country both in the European political economic system and a rising power of Eurasian base, it will be able to take its place in the world as a socially developed country of powerful democracy, economy and technology.

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