The head of the Turkish Presidency’s Investment Office, Burak Dağlıoğlu, said that Turkey rose to fourth place in Europe through the international investment projects it attracted last year, worth $10.6 billion.

This came in an interview about the preliminary results of the report on the countries most attractive to international direct investment in Europe for the year 2023, which will be published by the auditing and consulting firm (EY).

Dağlıoğlu stated that last year, Turkey continued its steady rise in the post-pandemic period among the countries most attractive to direct international investments in Europe.

Dağlıoğlu stated that for the first time after the Corona pandemic, a decline in international direct investment projects in Europe was recorded compared to the previous year.

He stated that behind this decline were low economic growth, high inflation, increased energy prices, and geopolitical risks.

Dağlıoğlu stated that 5,694 investment projects were announced in Europe last year, a decrease of 4 percent compared to the previous year.

He explained that with this number of projects, Europe recorded a rate 11 percent lower than the 2019 level before the outbreak of the Corona pandemic, and 14 percent lower than the peak in 2017.

He continued: “While international direct investment projects in the service sectors decreased significantly, the decline in the manufacturing sector was limited to 1 percent.”

Dağlıoğlu stated that although France attracted the largest number of projects last year, it recorded a 5 percent decrease compared to 2022.

He pointed out that the United Kingdom ranked second and the number of projects it attracted increased by 6 percent annually, while Germany ranked third and recorded a decrease of 12 percent year on year.

Dağlıoğlu stated that during 2023, Turkey continued its steady rise in the post-Corona period among the countries most attractive to direct international investments in Europe.

He explained that Turkey ranked seventh on the list in Europe in 2020 and fifth in 2022.

He stated that Turkey rose to fourth place in the top ten, attracting 375 international direct investment projects in 2023.

He pointed out that Turkey ranked first among the top ten in 2023 in terms of the rate of increase, with an increase of 17 percent compared to the previous year.

He added, “While there was an overall decline in the number of manufacturing projects across the continent, factors such as restructuring supply chains and sourcing from neighboring countries enabled a few countries on the continent, including Turkey, to attract more manufacturing projects.”

Dağlıoğlu stated that they are working to ensure that Turkey is an attractive investment destination on a global level and to provide a high-level investment experience for international investors coming to the country.

He added: “Turkey has become a prominent destination for investors thanks to its strategic location and strong investment environment.”

He continued: “The international direct investment we attracted in 2023, worth $10.6 billion, is the most clear indicator of this success.”

He added: “Despite the slowdown in investment trends across Europe, Turkey has become an attractive center for international investors by strengthening its infrastructure and diversifying its economy. That we have overtaken Spain and ranked fourth after France, England and Germany in this regard is very positive.”

Dağlıoğlu stated: “When we look at the past ten years, we find that Turkey has maintained its leading position, especially in manufacturing sector investments in a wide geographical area covering Central and Eastern Europe, the Middle East, and North Africa.

He explained: “We have become the country that attracts the most industrial investments in these regions, as Turkey attracted 21.7 percent of industrial investments during the aforementioned period.”

He stated: “We rank first as the country that attracted the most expansion investments, as Turkey attracted 19.1% of the expansion type investments achieved since 2013.”

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Turkish Minister of Treasury and Finance Mehmet Şimşek said on Monday that his country’s situation is much better than many developing countries, and that the ratio of public debt to national income in Turkey is less than half the emerging market average.

This came during the “Conservatives-Turkey Dialogue” session within the framework of the annual meetings of the Islamic Development Bank held in Riyadh on the occasion of the fiftieth anniversary of its founding.

Şimşek mentioned in his speech that they have established a reliable financial framework to support the fight against inflation in Turkey.

He reported that public finances are improving despite the effects of the earthquake that struck the country in February last year.

He explained that Turkey’s public debt to national income ratio is 29.5 percent, less than half the emerging market average.

Şimşek emphasized that fiscal discipline is one of the basic pillars of Turkey’s medium-term economic program.

The Turkish minister also pointed out that his country has a “very comprehensive structural reform agenda.”

In response to a question about the interest policies of global central banks and emerging markets, Şimşek said, “There are very few developing countries that have a good story at the moment, and Turkey has a great story.”

He added, “The story is the structural transformation of our country. Turkey’s program aims to ensure price stability, but it is not limited to this alone. There is also a comprehensive structural reform program.”

He continued: “We are determined to invest in human resources, improve the investment environment, and implement public finance reform.”

He also pointed out that the digital transformation is no less important than the green transformation, adding: “We will take the necessary steps regarding this twin transformation.”

He pointed out that the trend of future policies of banks such as the US Federal Reserve or the European Central Bank towards flexibility would improve financial conditions.

Şimşek pointed out that countries such as Turkey want to attract more investments, and pointed to “an increase in investors’ appetite for risk.”

He explained that global financial expansion also means a potentially supportive environment for global growth.

He added, “Strong global growth means a further increase in risk appetite.”

He pointed out that “the rise in risk appetite clearly benefits emerging markets, and Turkey is one of them.”

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A forum was launched in Istanbul on Saturday, bringing together businessmen and young people passionate about trade and entrepreneurship.

The program is organized by the Turkish YediHilal Association within the framework of its “School of Commerce” project.

The forum began at the Center of the Association of Independent Businessmen and Industrialists “MUSIAD”, and focuses on “export” in this year’s edition, and will conclude its work on Sunday.

In his opening speech, the association’s president, Samad Bajaji, said that they have been working to raise an educated and qualified young generation since 2013.

He stressed the association’s keenness to raise Muslim merchants who “respect what is permissible and what is forbidden and pay attention to zakat.”

In turn, the head of the Commerce School Committee, Muhammad Jabaji, stressed the importance of youth and stated that they are organizing the forum for their sake.

He stressed that trust constitutes the backbone of trade and without it it is not possible to do business at the local and international levels.

He explained that they have been organizing trade school forums since 2018.

He stated that they have met more than two thousand young people to date, 35 of whom have established companies, many of which export and provide job opportunities for many.

The project consists of three stages, the first in the form of sessions under the titles of boldness, patience, gratitude, and business ethics.

The forum organizers divide the young participants into groups in order to listen to their investment ideas.

The winner of the best investment idea will receive a sum of cash.

As for the second stage, participants will undergo distance learning lessons for a period of 6 weeks by professional investors on the basics of investment, digital marketing, financial management, creative thinking, intellectual development, and others.

In the third stage, the project will communicate with the participants who have successfully passed the previous two stages in a guidance framework and to transfer experience to the trainees so that they can establish their own businesses.

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Iraqi government spokesman Bassem al-Awadi said that the expected visit of Turkish President Recep Tayyip Erdogan to Iraq tomorrow, Monday, represents a “qualitative shift” in bilateral relations between the two countries and will witness the discussion of “important files.”

This came in statements made by Al-Awadi prior to Erdogan’s visit to Baghdad, and comes 12 years after his last visit to Iraq.

Al-Awadi added that the visit will be a “qualitative shift” in Iraqi-Turkish relations, especially since preparations for it have been taking place for about a year.

It is expected that Erdogan’s visit to Iraq will give an “important impetus” to strengthening economic and trade relations between the two countries, in addition to politics and security issues.

Turkish Trade Minister Ömer Polat previously said that Baghdad and Ankara will sign during President Erdogan’s visit to Iraq “a joint declaration regarding the establishment of the joint economic and trade committee and the protocol for establishing a consultation and cooperation mechanism in the areas of product safety and technical barriers.”

He added: “The Turkish Council for Foreign Economic Relations and the Federation of Chambers of Commerce in Iraq will also sign 3 agreements in the trade field, including a memorandum of understanding.”

The Iraqi government spokesman explained that “there are 4 important files on the agenda, the most important of which is the water file and the development road file, in addition to the security file related to the terrorist PKK organization.”

The fourth file, according to Al-Awadi, is “the Turkish companies file, which gains its importance from the strength of trade exchanges between Iraq and Turkey, in addition to other files that will dominate the Turkish president’s visit to Baghdad.”

Regarding the water file, Al-Awadi pointed out, “A strategic agreement will be signed between Erdogan and Iraqi Prime Minister Muhammad Shiaa Al-Sudani, given that Turkey is a country described internationally as one of the best countries in the world in investing in water wealth by all means and methods, and therefore they have great experience.”

Regarding the development path, the spokesman stressed that “there will be important agreements and things announced between the two sides, given that the center of the path is Turkey, and it will be at the heart of the negotiations, along with the file of Turkish companies’ investments and their role and work in Iraq.”

The development road project includes a land road and a railway linking trade routes in Asia, the Gulf states to the south, and European markets through Turkish territory.

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Turkey attracted direct international investments worth $240 million last February.

This was stated in the “Bulletin of International Direct Investments in Numbers” published by the International Investors Association (YASED) on Wednesday.

Investment capital flows amounted to $217 million, and real estate sales to foreign citizens amounted to $152 million.

Subtracting the downside effect of divestments worth $15 million and debt instruments worth $114 million, international direct investments flowing into Turkey in February amounted to $240 million.

Ireland ranked first in direct international investments with 18 percent, followed by Germany with 15 percent, then the UAE with 13 percent, Italy with 10 percent, and Sweden with 8 percent.

The European Union countries’ proportion of direct international investments reached 61 percent of total investments in February.

The total value of foreign direct investments in Turkey since 2002 has reached more than $264 billion.

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The Swiss newspaper Blick praised the characteristics of the Turkish electric car “TOGG” and described it as “the Turkish Tesla.”

The only nationally published newspaper in Switzerland said in a report prepared by journalist Wolfgang Gomol that the T10X TOGG car has become a Turkish landmark.

“The electric car impresses with its digital ecosystem, where AI can create radio playlists,” the report said. “But its driving and charging performance are also impressive, as our test drive showed.”

The report pointed out that TOGG was established in 2018 and that it survived the Corona pandemic period without any harm, and stressed that Turkey had made significant investments to develop this brand.

The report included praise for the TOGG car, describing it as “the Turkish Tesla.”

It pointed out that it has a large screen in the cockpit, and its own operating system has been developed, including an application store.

In addition to the praised driving characteristics, the report pointed out that the TOGG’s range reaches 468 km.

The report pointed out that when it comes to recharging, the TOGG can easily keep up with competitors such as “Skoda Eniac” or “Tesla” and in some cases even surpass them.​​​​​​​

It stated that the TOGG (T10X) cars are expected to arrive in Germany at the end of the year, but the date of their arrival in Switzerland is unclear.

It also pointed out that it is expected that one million TOGG cars will be on European roads by 2032.

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Turkish Trade Minister Ömer Polat discussed with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi the economic and trade relations between the two countries.

Polat said in a post on the “X” platform that he held discussions with the Emirati minister in a phone call that took place between them on Thursday.

He stated that he agreed with Al-Zeyoudi to accelerate the necessary steps to increase the volume of trade between the two countries and increase investments through the opportunities provided by the Comprehensive Economic Partnership Agreement between the two countries.

He added: “The economic relations between Turkey and the UAE have a multi-dimensional structure that includes trade, investment, energy and tourism, and we will continue to work to further strengthen our economic relationship.”

The two ministers also exchanged congratulations on Eid al-Fitr, the first day of which fell yesterday, Wednesday, according to the same publication.

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A Russian official said on Wednesday that his country is discussing with Turkey the possibility of building a second nuclear power plant in the northern state of Sinop.

This was reported by Kirill Komarov, Deputy Director General of the Russian Nuclear Energy Corporation “Rosatom” during a press conference in Sochi.

Komarov expressed Russia’s desire for the experience gained from the Akkuyu nuclear station project in the southern Turkish state of Mersin to be reflected in the construction of the next station in Sinop.

He stressed that the Akkuyu nuclear station is one of the very important projects for Russia in terms of responsibility and investment.

He added that all four units are scheduled to be completed by the end of 2028, noting the intensive work on the first unit.

Komarov pointed out that they are all looking forward to the moment when the Turkish electricity grid will be supplied with the first stream of nuclear energy.

He explained that the Turkish economy is developing at a good level and that the need for electricity increases every year, and accordingly, setting goals for the development of nuclear energy in Turkey is a very positive step.

Akkuyu is Turkey’s first nuclear power plant and one of the largest investments in the country.

In addition to Sinop, Ankara is also holding discussions with China regarding the establishment of a third nuclear power plant in the Thrace region, northwest of the country.

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The volume of international investments coming directly to Turkey last January increased by 20 percent compared to the same month of 2023 and reached $910 million.

This came in data published by the International Investors Association regarding direct investments coming into Turkey.

The data showed that direct international investments were distributed in the form of $399 million through investment capital flows, $415 million through real estate sales to foreigners, and $102 million through debt instruments.

It indicated that the volume of investments amounted to $910 million after decreasing by $6 million due to the impact of divestment.

The United States had the highest share of foreign direct investment entering Turkey at 44 percent, followed by Germany with 17 percent, and the United Kingdom 12 percent.

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Dania Zafer, Executive Director of the Gulf International Forum, based in the United States, said that the Gulf states view Turkey “as a soft power and a hard power as well.”

This came on the sidelines of her participation in the forum of the English-speaking Turkish channel TRT World, which was recently held in Istanbul.

The forum was held on December 8 and lasted for two days under the slogan: “Prospering together: responsibilities, actions and solutions.”

Zafer said that there has been a shift in relations between Turkey and the Gulf states in recent years, and in this context, she indicated a rapprochement in Turkey’s relations with the Kingdom of Saudi Arabia and the United Arab Emirates.

She confirmed that actors began to follow more “pragmatic” policies, and said: “After the Arab Spring, we are entering a new era in which everyone consolidates their gains and minimizes their losses.”

She noted that Turkey’s relations with the Gulf region will advance “very positively,” and that Turkey enjoys strong investment relations with the region.

Zafer pointed to the Turkish influence in the region, and said: “The Gulf countries view Turkey as a soft power and a hard power as well.”

Referring to the “strong relations” between Turkey and Qatar, Zafer said: “Turkey has a very close historical and current alliance with Qatar.”

The Executive Director of the Gulf International Forum added: “Qatar considers Turkey its most important security partner.”

Zafer believed that the United States “reduced its role in the region,” and said that “the Gulf states see Turkey as a potential partner for security in the region.”

She pointed out that there was a positive atmosphere in the Middle East regarding “reducing tensions and integration” until recently.

She added: “But the superficiality of dealing is one of the most important problems, especially when it comes to dealing with the major conflicts in the region.”

She pointed out that the Gaza war broke out “as a result of the failure to address some of the root causes of conflicts in the region.”

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