Saudi company plans major investment in Türkiye, says VP Yılmaz – Latest News
ISTANBUL
A Saudi Arabia-based company plans a $5 billion investment in Türkiye, Vice President Cevdet Yılmaz has unveiled, without naming the company.
The Saudi company wants to invest in the Turkish energy and other sectors, Yılmaz said in an interview with private broadcaster Kanal 7.
Foreign investors are showing strong interest in Türkiye, and this was clearly evident at the Investment Advisory Council for Türkiye event, which was held on Sept. 28 in Istanbul, according to the vice president.
Investors, who participated in the meeting in Istanbul, voiced strong confidence in the economic program the government is implementing, Yılmaz said.
During the event, a Saudi-owned company mentioned their intention to invest $5 billion in Türkiye, according to the Yılmaz.
“Türkiye has entered a different era in both portfolio investment and direct investments. We will see the results of this more in the coming period.”
Yılmaz recalled that President Recep Tayyip Erdoğan and Turkish ministers met with investors in the U.S. last week, when Erdoğan traveled to New York to attend the U.N. General Assembly.
Investors do not see opportunities in many countries due to political, geopolitical and economic reasons, the vice president noted.
“Türkiye is a stable country with a clear policy framework and predictability. Therefore, Türkiye has become a country that investors are discussing and talking about.”
In the first seven months of 2024, foreign direct investments into Türkiye exceeded $7 billion, Yılmaz said, adding that FDI inflows are expected to surpass $10 billion at the end of the year.
