Saudi business community urged to invest in Turkey

By Ali Atar

ISTANBUL (AA) - Economy Minister Nihat Zeybekci on Wednesday urged Saudi business community to invest in Turkey.

Speaking at the Turkey-Saudi Arabia Business and Investment Forum in Istanbul, Zeybekci told Saudi business community to “come, invest in Turkey -- the fastest growing country in Europe.

“Let us produce together and sell together to Europe and the world.”

He predicted Turkey would experience "incredible improvements over the next 10 years".

"No country in the world offers great opportunities as Turkey promises. No country in the world will be able to double its current energy consumption in the next 10 years.

“No country in the world will invest $150 billion alone in the transport sector over the next 10 years. No country in the world will invest more than $100 billion in its health-related transformation over the next decade alone,” he added.

The minister said Turkey and Saudi Arabia would be among fastest growing countries in the next 10 years as he pointed out Turkey’s vision for 2023 ad Saudi’s vision for 2030.

“Both the Turkish and Saudi Arabian economies are undergoing technological and sectoral transformation..."

- Ankara to boost cooperation

He said Ankara was enhancing its cooperation with Riyadh in construction, logistics, agriculture and tourism sectors.

“There are great opportunities , especially in the field of petro-chemistry. We are growing so fast that our finances are not enough for us,” according to Turkish minister.

He also asked the Turkish business community to participate in Saudi Vision 2030.

"You must take part in Saudi economy that is aiming to pass through major transformation in the next decade. Take part in vision 2030 of Saudi Arabia because you will win, you can be sure of that.

“During this development in Saudi Arabia you will also grow exponentially, you will develop."

Prior to the closing session of the forum, Turkish minister held a meeting with Saudi Trade and Investment Minister Majid bin Abdullah Al-Qasabi.

Saudi Arabia’s 2030 vision lays out a blueprint for the kingdom's long-term goals and expectations, reflecting its strengths and capabilities. Saudi Arabia's General Investment Authority Head Ayidth Al-Otaibi explained that they are seeking around $30 billion in investment per year to be able to achieve the vision.

As part of Turkey's vision for 2023, which marks the centenary of the Republic of Turkey, the country has set specific goals and targets that include major improvements in the economy, energy, healthcare and transportation.