Babacan predicts more Gulf investments in Turkey this year

Turkey can expect to attract more foreign direct investment (FDI) from Gulf countries this year than last, Economy Minister Ali Babacan said over the weekend after a G-20 meeting in Paris. Babacan said the government is pleased to see more entrepreneurs from Gulf countries willing to step into new investments in Turkish markets. "People are interested in investing in the media, real estate and tourism," he added. "It's encouraging to see Gulf investors' interest in Turkish markets turning further into real projects." On the G-20 meeting, Babacan said participants believe the US government is preparing to take steps to curb its budget deficit, much like Turkey did two years ago. "We already took these steps in 2009, and now the US sees them as necessary, too," Babacan said.