Riyadh – The Turkish government is set to announce new incentives and facilities to foreign investors, in particular to Saudi and Gulf businessmen to promote foreign investments in the country.
In remarks to Asharq al-Awsat newspaper on Thursday, Dr. Mustafa Goksu, senior advisor at the Investment Support and Promotion Agency at the Turkish prime ministry, said that Crown Prince Mohammed bin Naif bin Abdulaziz would conduct an official visit to Turkey next week, during which he will meet with owners and directors of the country’s top business companies.
The meeting would be aimed at discussing opportunities for Turkish companies to work in the Saudi market.
Goksu noted that Saudi Arabia was a business hub for the entire Gulf region. He added that more than 700 Saudi companies were currently investing in Turkey, with investments amounting to more than $2 billion.
The Turkish official stressed that all foreign investments in Turkey were protected by binding agreements that cannot be breached.
Goksu added that the Turkish government would also discuss with the Saudi crown prince the signing of a free trade agreement between Turkey and GCC States.
“Officials will also discuss investment opportunities and the means to promote trade between the two countries,” he stated.
Goksu said that the Turkish government would announce by the end of this year new incentives and facilities to encourage Saudi and Gulf businessmen to invest in the country.
He added that the investment environment in Turkey was much better than the previous years, thanks to the facilities offered by the government and the stable political situation.