Turkiye Focuses on Industry, Digital Transformation to Improve Investment Environment

Türkiye has finalized a plan to improve the investment environment, with the aim to simplify legislation and administrative procedures and accelerate digital and green transformation in industry. The country has also pledged to continue working to reduce inflation and achieve permanent price stability.

Turkish Vice President Cevdet Yilmaz said that within the scope of studies of the Coordination Council for Improving the Investment Environment, an action plan consisting of 57 items was prepared in cooperation with non-governmental organizations, the private sector and public institutions, to facilitate and simplify legislation and administrative and judicial processes related to investments in the country.

The plan also seeks to develop locations for investment opportunities, especially for industry, provide target-oriented financing, accelerate the digital and green transformation of industry,and meet the needs of vocational training and labor markets.

On the other hand, Yilmaz stressed the Turkish government’s commitment to reduce inflation to achieve permanent price stability.

Addressing a meeting with international investors in London on the sidelines of the Global Soft Power Summit 2024, the minister said that the medium-term economic program announced by the Turkish government last September was achieving its desired goals.

He noted that although inflation has reached its peak at about 65 percent, the Turkish government is confident that anti-inflation policies will lead to a sharp downward trend in the second half of 2024. He expected inflation to reach about 15 percent in 2025, with a goal of reaching single-digit numbers in 2026.

Yilmaz pointed to the quality and diversity of investments in Türkiye, with its strategic location at the crossroads of three continents, in addition to its wide network of free trade agreements, which makes it a center for commercial and economic activities.

Source: aawsat

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