Saturday, October 15, 2005

Racism over Capital Drives Foreign Investment away

Foreign capital is taking growing interest in Turkey in proportion with the political and economic stability. Many companies that never thought of investing in Turkey in the past are now eagerly looking for ways to direct their capital into the Turkish market.

Despite that, some campaigns against foreign capital were conducted before and after the privatizations of Turk Telekom (TT) and ERDEMIR, the state-run iron-steel monopoly, with the result of attracting reactions from the business world. Turkish Prime Minister Recep Tayyip Erdogan's remarks, "Some people are approaching foreign capital with racist views" drew a huge amount of support from the business world.

Read the rest of the article on Zaman

See also: EU to herald Turkey's economy as 'active market economy' (Turkish Weekly)

No comments: