The Turkish government’s agenda for development is one of the most ambitious in the world. Combined with investor friendly changes in the market, including a new investment incentive regime and new regulation enhancing transparency and certainty for deals under Turkish Law, foreign investors are increasingly looking to Turkey with greater confidence, attracted by the opportunities available.
Creating an investor-friendly environment -
A number of years ago the Turkish government embarked on an ambitious infrastructure and energy strategy, with a focus on the power, health, transport and telecoms sectors and this is now bearing fruit. The Government’s aim, following the global trend, is to reduce state participation and increase private investment by creating a more investor-friendly environment. In order to achieve this, the Turkish Parliament has enacted the new Turkish Commercial Code (TCC), the Turkish Code of Obligations (TCO) and, on 1 January 2012, introduced a new investment incentive regime. “The new investment regime is a remarkable change in the finance environment which has been welcomed by investors” comments Zeynep Çakmak, Ankara Partner at White & Case and Çakmak Avukatlik Bürosu.
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