ANKARA - World Bank Turkey Director Andrew Vorkink has remarked today (Monday) that foreign investors have more confidence in the Turkish economy than local ones. ''This is rather a very interesting development,'' said Vorkink.
Andrew Vorkink answered AA correspondent's questions on the Second Investment Advisory Council Meeting that took place in Istanbul on April 29th.
Vorkink stated that the meeting ended with a better result than expected.
Vorkink indicated that the Istanbul meeting will help in reaching positive goals. ''We will witness a tremendous increase in the amount of foreign investments in Turkey later this year,'' commented Vorkink.
-FOREIGN INVESTORS HAVE CONFIDENCE IN TURKEY-
Vorkink stressed that many multi-national firms in Turkey follow Turkish economy and politics closely. ''These multi-national firms also follow international developments closely,'' expressed Vorkink.
According to Vorkink, foreign investors are aware of the economic and political stability in Turkey. Turkey's receiving a date for the beginning of accession talks with the EU also contributed to the stability, added Vorkink.
Vorkink remarked that the Second Investment Advisory Council Meeting in Istanbul was positively affected by the EU's decision to begin accession talks later this year. ''Foreign investors look at Turkey as a European country,'' said Vorkink.
Vorkink indicated that Turkish Premier Recep Tayyip Erdogan took notes on the criticisms and advises of foreign high level managers and assured all parties that his government would act based on these comments of foreign managers.
Vorkink mentioned that the CEOs of foreign companies wish for tax reforms, transparency in local companies, reforms in administrations, reforms in bankruptcy laws and further privatizations, including the privatizations of Tupras, Erdemir and Turk Telekom.
Vorkink said that Turkey is ranked number 5 in the world in terms of quickness in establishing new business. ''Apparently, direct capital investment in Turkey is slow at the moment. Yet Poland, who just joined the EU, and candidate countries Romania and Bulgaria also face similar problems in attracting direct foreign capital investment,'' told Vorkink.
-ELECTION OF KEMAL DERVIS TO THE UNDP CHAIRMANSHIP-
Meanwhile, Vorkink remarked that the election of Kemal Dervis, Turkish Republican People's Party (CHP) deputy from Istanbul, to the Chairmanship of the United Nations Development Program (UNDP) is an excellent decision.
''Dervis's election is a sign that Turkey is one of the leading countries globally,'' stressed Vorkink.