Turkey: Economic reforms aim to draw delayed investment

By Tuba Sahin, Gokhan Ergocun and Aysu Bicer

ANKARA (AA) - Turkey's new landmark economic reform package aims to attract delayed investments, the country's minister of treasury and finance said on Tuesday.

"Global investments narrowed by over 40% in the pandemic period. We're facing delayed demand," Lutfi Elvan told Anadolu Agency's Editor's Desk in the capital Ankara.

Elvan underlined that Turkey has significant advantages in attracting investments with the reform package.

The package will increase predictability and make the country more attractive for direct and portfolio investments, he stressed.

"We'll come together with EU and G20 ambassadors, as well as foreign investors, to share the reform agenda," he stated.

Announced by President Recep Tayyip Erdogan last Friday, the package included several measures such as reducing the share of foreign exchange in total debt stock and establishing new mechanisms, namely the Healthcare Industries Presidency, Software and Hardware Industries Presidency, Economic Coordination Council, and Financial Stability Committee.