“Improvement of the Investment Environment in Turkey” discussed
Suggestions for the improvement of the investment environment were discussed at the Consultation Meeting of “Improvement of the Investment Environment in Turkey” Report where Chair of the Board of Directors Mustafa Sabri Erol and Secretary General Arif Onur Kaçak represented AIMSAD.
Consultation meeting of Sectoral Trend Analysis “Improvement of the Investment Environment in Turkey” Report by the Istanbul Chamber of Commerce was held on 24th January 2018. Representatives from TR Ministry of Development, Istanbul Chamber of Commerce and Istanbul Thinking Academy as well as Chair of the Board of Directors Mustafa Sabri Erol and Secretary General Arif Onur Kaçak on behalf of AIMSAD attended the meeting.
Many areas were addressed for evaluation of the investment environment at the meeting where a report consisting of 10 main topics was presented and representatives of the industries shared their opinions. Many suggestions were proposed for improvement of the investment environment in Turkey at the meeting where industrial zones, investment funding (development banks) and investment incentives were discussed as main topics.
It was emphasized during the meeting that stability and improvement should be ensured in the macro indicators, the institutional bureaucracy related to the investment environment should be simplified, and investors should be provided with convenient business conduct opportunities. Preparation of sectoral strategic documents, establishment of an executive body as well as elimination of the factors hindering employers and entrepreneurs at the labor market, reduction of indirect taxes in the domestic market and allocation of 49-year-lease industrial lands were discussed, and the importance of these issues was emphasized at the meeting. It was emphasized during the meeting that construction of infrastructure in the industrial zones completely by the sate, establishment of sectoral technology centers and specialty technical research universities by the state were important steps for improvement of the investment environment, in addition, the following proposals were discussed: “Universities should be assigned and specialized in sectoral areas. Labor, energy, funding costs should be reduced. A next-generation industrial development bank should be established. Long term TRY currency investment credits should be granted. Investment incentive should be simplified, and regulated on sectoral and project basis. It should have main components of land allocation, long term tax holiday and Social Security+Income tax exemptions. Immitation in the domestic market and nonconforming products in import should be effectively controlled and prevented. Legal processes should be simplified and facilitated.