Ankara, December 24, 2024 – The Europe Today: Türkiye’s ongoing efforts to achieve economic stability could unlock $13.5 billion in the next six months, potentially increasing the nation’s share of global investments from 0.8 percent to 1.5 percent, according to Engin Aksoy, head of the Turkish International Investors Association (YASED).
Aksoy outlined the opportunities for Türkiye in the evolving global economic landscape during a recent statement. He pointed to the impact of U.S. President-elect Donald Trump’s planned tariff hikes, which may intensify structural issues in China and lead to shifts in trade policies.
“The Mario Draghi report on European competitiveness reveals the EU is lagging behind. The region needs a transformation, and in such a fragile and unpredictable environment, Türkiye may have many opportunities,” Aksoy stated.
Key drivers of Türkiye’s investment potential include nearshoring and friendshoring trends, where countries prioritize partnerships with nearby allies. Aksoy emphasized that Türkiye must meet two critical conditions to capitalize on this potential: building macroeconomic stability and implementing regulatory frameworks that ensure long-term predictability.
Investment Targets and Strategic Focus
Türkiye is currently projected to attract $11 billion in foreign investment in 2024, a figure Aksoy deems insufficient given the country’s potential. YASED aims to boost this to $20 billion.
“International firms with operations in Türkiye — including representative offices, factories, and R&D centers — are eager to expand their investments. However, stability and predictability are essential for fostering confidence among these investors,” Aksoy remarked.
He identified digital and green transformation, along with electricity, as key sectors poised for growth in the coming years. “Türkiye has been receiving significant investments in retail and the automotive sector, but the future will see a focus on green and digital transformation, aligning with global trends,” Aksoy said.
Combating Inflation and Structural Reforms
Aksoy also praised recent steps by Türkiye’s economic administration to combat inflation, noting that they contribute to a positive investment outlook. However, he stressed the importance of structural reforms in achieving long-term success.
“The fight against inflation must include comprehensive structural reforms. While progress is being made, we have a long way to go, and I believe we’ll see substantial advancements this year,” he added.
Türkiye’s ability to attract substantial foreign investment hinges on its commitment to economic stability, regulatory predictability, and alignment with global economic trends, positioning the country as a rising hub for international investors.
