Türkiye's Foreign Direct Investment Strategy (2024-2028) has been announced through Presidential Circular No. 2024/9, published in the Official Gazette dated July 29, 2024, and numbered 32616. The relevant circular (in Turkish) can be accessed here.
The circular states that the strategy has been prepared by the Republic of Türkiye Investment Office and collaborating with all relevant public and private sector institutions and organizations. An official website with the domain name www.invest.gov.tr has been created for this purpose, where the strategy is published.
You can access the strategy here.
You can access the 2024 action plans here.
In recent years, Türkiye has aimed to undertake comprehensive reforms to attract foreign direct investments (FDI) and ensure sustainable economic growth. In this context, the Türkiye Foreign Direct Investment Strategy 2024-2028 is intended to serve as a roadmap to improve the country's investment climate and enhance its global competitiveness.
Core Principles of the Strategy
The core principles of the strategy lay out the main approaches that will contribute to Türkiye's economic growth objectives.
Robust and Sustainable Growth:
FDIs are deemed vital for Türkiye's economic growth, technological transformation, and increased global competitiveness.
The strategy aims to diversify and strengthen the resilience of the economic structure.
Investor-Friendly Reforms:
It is stated that the reforms implemented since 2003 have made Türkiye an attractive and secure destination for investors.
Further improvements to the investment climate and reduction of bureaucracy are targeted.
Alignment with Global Trends:
The strategy is designed to adapt to changes in global FDI flows and emerging trends.
Prioritization of digitalization, green transformation, and sustainability is emphasized.
Objectives of the Strategy
Based on these core principles, the objectives of the strategy have been defined. These objectives aim to increase Türkiye's share in global and regional FDI and promote high-quality investments.
Increase in Global FDI Share:
The goal is to raise Türkiye's share in global FDI flows to 1.5%.
Active communication with investors and promotion of investment opportunities will be pursued.
Increase in Regional FDI Share:
The plan aims to increase Türkiye's share in regional FDI flows to 12%.
Balanced distribution of investments across regions and support for regional development will be ensured.
Increase in High-Quality Investments:
Encouraging investments in knowledge-intensive, high-value-added services, digital, and climate-friendly sectors is targeted.
Increasing the number of projects and supporting innovative investments in these areas is planned.
Policy Areas
Various policy areas have been identified to achieve the set objectives of the strategy. These policy areas include specific steps to make Türkiye's investment environment more attractive and competitive.
Digital Transformation:
Promotion of digitalization and technological innovations.
Strengthening digital infrastructure and accelerating technology transfer.
Global Supply Chain:
Enhancing integration into the global supply chain.
Increasing Türkiye's logistics and transportation capacity.
Qualified Human Resources:
Increasing the number of qualified and competent workforce.
Supporting education and skill development programs.
Investment Climate Competitiveness:
Making the investment climate more competitive.
Implementing legal and fiscal reforms.
Green Transformation:
Promoting sustainable and environmentally friendly investments.
Supporting renewable energy and energy efficiency projects.
Communication and Promotion:
Promoting Türkiye's investment opportunities on a global scale.
Establishing effective communication channels with investors.
Implementation and Support
To ensure the effective implementation of the strategy, various implementation and support mechanisms need to be developed. These mechanisms aim to minimize the challenges investors face in Türkiye and facilitate their investments.
Investment Office:
The Presidential Investment Office provides support at every stage needed by investors.
Offering consultancy on regulations, costs, incentives, and tax systems.
Facilitating investors' bureaucratic processes through coordination with local stakeholders.
Investment Incentives:
Various incentives are provided for investments in strategic sectors.
Incentives such as tax reductions, customs exemptions, and financial supports are used to attract investors.
The strategy encompasses policies aimed at advancing Türkiye in areas such as digital transformation, green economy, global supply chain integration, and qualified human resources. Through this strategy, Türkiye aims to be an attractive investment destination for investors.
For detailed information, you can contact ramazanertas@ertaspartners.com.
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