Turkish State Minister Ali Babacan said Monday that the government has no intention of calling early elections, and that scheduled 2007 elections will not disrupt the country's economic program. He spoke at a press conference held at the Treasury Undersecretariat in Ankara.
Babacan highlighted that foreign direct investment into Türkiye hit a historic high in 2005, climbing 3.5 times over previous levels to reach 9.7 billion USD. Of that total, 1.9 billion went into real estate and 1.5 billion into privatization deals. The top investing countries, including the United States, British Virgin Islands, Lebanon, Belgium, and Italy, together accounted for 6.7 billion USD, or roughly 70 percent of the annual total.
The minister credited stable macroeconomic policies and a 2003 foreign direct investment law with improving international confidence in Türkiye. He said the country is now seen as a reliable destination for capital, not merely a market with potential.
In the first quarter of 2006, inflows reached 1 billion USD, a figure that excludes capital expected from the privatizations of Telsim and Turk Telekom. Some 9,684 foreign-owned companies were registered in Türkiye during 2005, active in sectors ranging from services and retail to manufacturing, textiles, and food.
Babacan also announced that the Investment Advisory Council is scheduled to meet in Istanbul on 29 June.
Historical summary. TurkishPress restated this wire report, first published in May 2006, in its own words.