Minister Mehmet Şimşek Highlights Turkiye’s Rising Share in Global Direct Investments, Setting Ambitious Goals for the Future
Turkiye has emerged as a formidable player on the global investment stage, attracting a staggering $266.9 billion in direct investments from 2003 to June 2024. Hazine ve Maliye Bakanı Mehmet Şimşek recently shared these figures, underscoring the nation’s growing appeal to international investors.
Growing Share in Global Investments
Minister Şimşek emphasized the notable increase in Turkiye’s share of global direct investments, which rose from a mere 0.2% before 2003 to 0.9% in the 2003-2023 period. This growth is not only a testament to Turkiye’s evolving economic landscape but also a reflection of its strategic position as a preferred destination for significant investments in sectors such as electric vehicles, battery production, and logistics.
- Key Investment Areas: Turkiye’s strategic focus on sectors like electric vehicles, battery manufacturing, and logistics has made it a prime location for global firms seeking to expand their operations.
- Rising Global Share: Turkiye’s share in global direct investments increased to 0.9% in 2023, a significant rise from 0.2% before 2003.
Ambitious Goals for 2028
Looking ahead, Minister Şimşek outlined an ambitious target in the International Direct Investment Strategy—to increase Turkiye’s share of global direct investments to 1.5% by 2028. This goal is part of a broader strategy aimed at transforming Turkiye into a larger production hub, focusing on policies that promote high-value production and twin transformations.
- Investment Strategy: The strategy emphasizes high-value production and technological advancements, aiming to position Turkiye as a key player in the global market.
- Twin Transformations: The focus on twin transformations highlights the country’s commitment to modernizing its industrial base while fostering sustainable growth.
Turkiye’s Role as a Production Hub
As global firms continue to choose Turkiye for their investment projects, the country is steadily transforming into a significant production hub. This transformation is expected to boost Turkiye’s growth potential and enhance the welfare of its citizens.
- Global Preferences: Large international firms are increasingly choosing Turkiye for investments in electric vehicles, battery technology, and logistics, solidifying the country’s role as a vital link in global supply chains.
- Economic Impact: The influx of direct investments is not only driving economic growth but also contributing to job creation and technological advancements across various sectors.
Minister Şimşek’s Vision
Minister Şimşek’s vision for Turkiye is clear: to continue attracting high levels of direct investment, driving economic growth, and improving the standard of living for its citizens. By focusing on high-value production and sustainable development, Turkiye aims to secure its place as a leading global investment destination.
- Future Projections: With targeted policies and strategic investments, Turkiye is on track to increase its share in global direct investments, reaching the 1.5% mark by 2028.
- Economic Growth: The continued influx of investments is expected to significantly contribute to Turkiye’s economic growth, further establishing the country as a global production powerhouse
Source: Trthaber / Prepared by Irem Yildiz