Caglayan: "Putting money in Turkey has become a privilege for foreign investors"

Investing in Turkey has become a privilege for foreign investors, said Industry and Trade Minister Zafer Caglayan yesterday. Touting Turkey as an important automobile production hub, he said, "In recent years Turkey has made important strides towards being a state under the rule of law, in line with international law, with a well-established market economy, and this has made Turkey a favored and attractive location for foreign investors." Stressing that Turkey enjoys key advantages to attract more foreign investments, he said that the government had made sweeping legal changes to make such investing easier. He said that to make the progress in its automotive sector sustainable, Turkey should also have an inexpensive auto sector. The government will provide interest-free loans to small- and medium-sized enterprises (SMEs) which do exports, he said. Touching on recent international economic woes, he added, "As long as Turkey's economic development trend continues, income growth and demand will keep rising. This means the automotive sector won't face any dramatic contractions in the future."