Swiss Companies Expected to Increase Investments in Turkiye Beyond $10 Billion

With Improved Investment Conditions, Swiss Firms Eye Expansion in Diverse Sectors

Swiss companies have already invested over $10 billion in Turkiye, and this figure is expected to rise with better investment conditions, according to Arpat Senocak, President of the Swiss Chamber of Commerce in Turkiye. Speaking to AA, Senocak highlighted that around 300 Swiss companies are currently operating in Turkiye, and many more are evaluating opportunities to enter the Turkish market.

Strengthening Economic Ties

Established in 1984 by leading Turkish firms, the Swiss Chamber of Commerce in Turkiye will celebrate its 40th anniversary this month. The chamber aims to foster better understanding and synergy between the business communities of Turkiye and Switzerland. With 160 members engaged in various sectors such as production, trade, and services, the chamber plays a crucial role in facilitating bilateral economic relations.

Senocak emphasized Switzerland’s position as the 8th largest investor in Turkiye, with diverse investments across financial services, food, industry, and trade. He noted that Swiss companies are keen on exploring further investment opportunities in Turkiye, waiting for the right moment to capitalize on the favorable economic climate.

Positive Economic Outlook

Despite recent economic challenges, Turkiye’s latest economic policies and decisions have been positively received, boosting investor confidence. Senocak pointed out that European investors prioritize transparency, predictability, and independent public institutions, and the recent improvements in Turkiye’s investment environment have aligned well with these expectations.

Swiss investors view Turkiye as a long-term investment destination, with some companies having a presence in the country for over 50 to 100 years. This long-term commitment reflects their confidence in Turkiye’s potential and economic stability.

Embracing Environmental Standards

Senocak also addressed the importance of Turkish firms adapting to the EU’s Carbon Border Adjustment Mechanism (CBAM). He noted that many companies have been actively working on compliance for the past couple of years, which is a positive development for the sustainability of Turkish exports to Europe.

Optimistic Investment Climate

The decline in Turkiye’s 5-year credit default swap (CDS) rate has positively impacted investment costs, further enhancing the investment climate. Senocak expressed hope for positive developments regarding Turkiye’s position on the grey list, as this would facilitate investment decisions and promote a more favorable business environment.

The chamber regularly discusses improving the investment climate with its members and stakeholders, emphasizing the importance of education. They are collaborating with universities and professional organizations to prepare young people for the workforce and ensure they can make meaningful contributions to the economy.

Upcoming Swiss Days Event

In September, the chamber will host the Swiss Days event, led by the Swiss Consulate General. The event will focus on education, bringing together universities, professional organizations, and chamber members to discuss career expectations and requirements with students. This initiative aims to better prepare young people for the job market and enhance their professional readiness.

Swiss investments in Turkiye are poised for growth, driven by improved economic conditions and a strong commitment to long-term collaboration.

Source: AA / Prepared by Irem Yildiz

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