Türkiye reaffirmed its position as a global investment hub at the 10th Investment Advisory Council (IAC) meeting in Istanbul on September 28, 2024. Held at the Dolmabahçe Palace and chaired by President Recep Tayyip Erdoğan, the meeting was the first of its kind since 2016. It brought together key government officials, top executives, and business leaders from 13 countries, representing companies with combined assets exceeding USD 3.5 trillion.
Among those present were Vice President Cevdet Yılmaz, Energy and Natural Resources Minister Alparslan Bayraktar, Treasury and Finance Minister Mehmet Şimşek, Trade Minister Ömer Bolat, Industry and Technology Minister Mehmet Fatih Kacır, Transport and Infrastructure Minister Abdulkadir Uraloğlu, and Investment Office President A. Burak Dağlıoğlu, alongside leaders from prominent Turkish business associations.
Participants included global players from various sectors such as energy, automotive, technology, and finance, including Templeton Asset Management, Qatar Investment Authority, Vitol, Emirates NBD, Mitsubishi Corporation, Chery, ACWA Power, Masdar, and BRF. The meeting focused on advancing Türkiye's investment environment, strengthening economic ties, and promoting key sectors like renewable energy, advanced manufacturing, and digital transformation.
In his opening remarks, President Erdoğan outlined a bold vision for the "Türkiye Century," aiming for it to be synonymous with the "Investment Century." The President emphasized Türkiye's growing significance as a global production hub, highlighting the country's export growth, which surged from USD 36 billion in 2002 to USD 256 billion in 2023. The President also stressed that Türkiye's strengthened role in global supply chains, along with its modern infrastructure and strategic reforms, are key factors driving its increasing appeal to international investors.
A core theme of the meeting was the Türkiye Foreign Direct Investment Strategy, aimed at attracting high-value-added investments. This strategy focuses on sectors that will drive Türkiye's digital and green transformations, reinforcing the country's ambitions to become a regional leader in technology-driven production. The government's commitment to fostering a business-friendly climate was also emphasized, with ministers participating in discussions that reflected the integrated approach between the public and private sectors in enhancing Türkiye's competitiveness.
In his closing remarks, President Erdoğan reaffirmed Türkiye's commitment to creating a stable, investor-friendly environment, underpinned by sustainable growth and deeper integration into global value chains. The meeting concluded with a final declaration reiterating Türkiye's ambition to remain a key destination for foreign direct investment (FDI). Participants left with renewed confidence in Türkiye's future, bolstered by clear government backing and a comprehensive strategy for continued economic reform and growth.
According to the declaration, the Investment Advisory Council (IAC) praised Türkiye's efforts to enhance its investment climate, highlighting the country's strong recent economic performance and resilience to global challenges. The IAC acknowledged Türkiye's strategic position in global value chains and its increasing share of international trade. Members emphasized the need for ongoing modernization of the legal framework, infrastructural advancements, and policies supporting green and digital transformations to further improve the investment environment.
The declaration underscored key priorities for future growth, including maintaining macroeconomic stability, implementing structural reforms, and enhancing Türkiye's competitiveness through innovation and high-value-added activities. The council also highlighted the importance of advancing green energy initiatives, promoting digitalization, and fostering partnerships between universities and businesses to boost R&D. Investments in critical infrastructure, such as energy, transport, and telecommunications, were deemed essential for sustaining long-term growth. The council concluded with a strong endorsement of Türkiye's comprehensive economic policies, reaffirming its potential as a leading global investment destination.