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Turkey to Rely on Foreign Investments to Revamp the Economy

Written by: Bridgewest

In the near future, Turkey plans on attracting new foreign investors who will help the economy rebound and decrease the account deficit which has increased at the beginning of the year. The minister for finance has put in place an economy management team which will find solutions in order to increase Turkey’s economy and keep up with the latest global market’s trends. If you want to open a company in Turkey and need assistance, our local company formation consultants can advise you.

Turkey to improve dialogue with international organizations

The new team put together by the ministry of finance will work towards harmonizing the local economy with the international markets in order to make it more dynamic. The Turkish financial system will also be aligned to the international one by improving the communication with international rating agencies, banks, and large investors.

One of the most important ideas is to help companies to lower production costs while increasing the market value of their goods. This way, the government plans on reducing and keep the inflation under control.

The ministry for finance plans on improving the monetary, expenditures and liquidity policies in order to achieve its goals. Another plan is to build a solid fiscal infrastructure.

Our company registration consultants in Turkey can advise on the legislation on foreign investments.

New reforms of the fiscal system announced by September

Present at the G-20 meeting in Argentina, the minister for finance also announced a new program which will be ready by September. The program will include the revamp of the development ministry, the Central Bank, the real estate industry and the financial one.

The program will face the changes and the challenges posed by the global dynamics and will turn Turkey into a competitive economy. Also, investments based on expenditure will be slowed down to make room for foreign direct investments based on attracting capital into the country.

Foreign enterprisers interested in starting a business in Turkey benefit from many incentives offered by the government. Those interested in setting up companies in this country are invited to contact our Turkish company formation advisors for guidance.

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