Turkey has succeeded in attracting more than 700 international companies working in the fields of technology and research and development centers (Getty)

Turkish Vice President Cevdet Yilmaz affirmed the Turkish government’s commitment to giving priority to reducing inflation in order to achieve permanent price stability, while the head of the Turkish Presidency’s Investment Office, Ahmet Burak Dağluoğlu, revealed the “International Direct Investment Strategy 2024-2028.”

In a meeting with international investors in London, Yilmaz confirmed that the Turkish economic program is working as intended, according to what was reported by the Turkish newspaper Daily Sabah.

The newspaper said that, while addressing the country's macro policies and investment climate, Yilmaz stressed the government's commitment to giving priority to reducing inflation for the sake of permanent price stability.

Yilmaz provided an expanded view of Turkey's economic outlook for 2024, highlighting the "success of the government's medium-term economic program."

Although inflation has peaked at nearly 65%, Yilmaz expressed confidence that anti-inflation policies will lead to a sharp downward trend in the second half of the year.

According to the newspaper, the Turkish Vice President discussed the government’s efforts to address inflation, implement tax increases, and reduce domestic demand.

Turkey's priority sectors include green energy, chemicals, petrochemicals, technology and defense (Associated Press)

Structural reforms and sustainable growth

While government plans in Turkey aim to achieve 4% growth in 2024, Yilmaz set expectations for a noticeable decline in annual inflation around mid-2024.

He stressed the government's commitment to continuing anti-inflation policies, and expected inflation to reach about 15% in 2025, with a goal of reaching single-digit numbers in 2026.

The newspaper said that Yilmaz pointed to Turkey's resilient growth, achieving 4.7% in the first nine months of 2023 and an average annual growth rate of 5.4% over the past twenty years.

Quality of investments

Yilmaz highlighted the quality and diversity of investments in his country, with its strategic location at the crossroads of three continents, in addition to its extensive network of free trade agreements, which makes the country a center for commercial and economic activities, as he put it.

Yilmaz emphasized priority sectors for investment support, including electric mobility, green energy, chemicals, petrochemicals, ICT, high-quality manufacturing technologies, defense, and aviation.

The Turkish Vice President spoke about his country's exports reaching an all-time high of $256 billion in 2023.

New investment strategy

Meanwhile, the head of the Turkish Presidency’s Investment Office, Ahmet Burak Dağluoğlu, during his participation in the 2024 Brand Finance Global Soft Power Summit in London, stressed the “permanent economic stability that Turkey enjoys,” which makes his country a beacon for international investment. According to his expression.

Daglioğlu revealed the “International Direct Investment Strategy 2024-2028” for his country, according to the Daily Sabah newspaper.

The newspaper quoted Daglioğlu as saying: “As the presidential investment office, we are committed to disseminating and facilitating the tremendous opportunities that Turkey offers to global investors.”

He confirmed the country's success in attracting more than 700 international companies working in the fields of technology and research and development centers, in addition to more than 80,000 international companies providing various services in various sectors.

A strategic vision for global investments

Daglioğlu stressed that "the cumulative international investments in Turkey over the past two decades have exceeded 260 billion US dollars," according to what the newspaper reported.

He announced an ambitious goal of raising Turkey's share in the global international direct investment market to 1.5%, explaining the initiatives in the upcoming strategy that aim to achieve a major leap from the current share of 1%.

Daglioğlu, along with Turkish Vice President Cevdet Yilmaz, participated in a series of meetings in London to present the business climate in Turkey and attract investors.

Source: Turkish press