Saudi King's Visit Raises Hopes for Investment in Türkiye

Istanbul Chamber of Commerce Chairman Murat Yalcintas said Tuesday that Saudi businessmen have prepared investment packages targeting Türkiye, including opportunities in the country's ongoing privatization program.

Yalcintas noted that Turkish officials had already met with Saudi business leaders and administrators during a visit to Saudi Arabia earlier in the spring, laying groundwork for closer economic ties.

He pointed to the sharp rise in global oil prices as a driver behind Saudi Arabia's growing capital reserves, saying that attracting that wealth to Türkiye would benefit both sides. Saudi investors are reported to have specific interest in Türkiye's industrial and tourism sectors.

Saudi King Abdullah bin Abdul Aziz al-Saud, traveling with a delegation of businessmen, was expected to arrive in Türkiye later that day.

Historical summary. TurkishPress restated this wire report, first published in August 2006, in its own words.