Prime Minister Tayyip Erdogan said on Tuesday Turkey was set to see record foreign direct investment (FDI) this year and complete a raft of privatisations by 2009. "We received $20 billion in FDI in 2006. As of the end of 2007, we expect to receive $25 billion," he said at a conference in London.
Ankara had said before it aimed for FDI of $20 billion this year after last year's record figure. European Union candidate Turkey is attracting foreign investors with its fast growing young population and economic growth is forecast at 5 percent this year and 5.5 percent next year.
The banking sector has seen a series of take-overs by foreigners and now analysts say financial services and consumer-related sectors are likely to attract most attention.
Foreign direct investment is coming also from a broad privatisation programme backed by the International Monetary Fund. "We aim to complete by 2009 projects to privatise electricity and power generation, Turkish Airlines, Halkbank and other public banks, roads, and other companies including sugar and tobacco," Erdogan said.
A minority share in Halkbank was already sold in an initial public offering this year and a block sale is expected to follow. Several major European firms have said they are interested in the upcoming privatisation of electricity grids and the planned sale of major highways and bridges.
Comments
Comments are closed.