Gulf countries eye Turkey investments after coup attempt

ANKARA

Prominent investors from Gulf region said Friday they are set to invest more in Turkey where confidence in economy is resilient after the deadly July 15 coup attempt failed to overthrow the elected government.

Head of Al-Zamil Group, one of largest real estate groups in the World, Abdul Aziz Bin Abdullah Al Zamil said: “We have full confidence in Turkey. We are extremely pleased that the coup attempt was successfully suppressed by an extraordinary public support, security forces and authorities loyal to duty.”

“We will continue to invest in Turkey in coming period”.

Increasing their investment pace in Turkey recent years, the gulf investors have said Turkey is a more suitable destination for their investments, as confidence in the country’s economy and democracy remains after a failed coup attempt by the Fetullah Gulen-led FETO terrorist group.

“Political and economic stability achieved in Turkey is extremely important for the entire region,” Al Zamil said.

“Turkey with significant investment opportunities and more resilient to crises is more attractive for us in terms of investments,” he added.

Zamil said his group was concerned about the coup attempt and the events that unfolded but that Turkey would “get through this challenging period more powerful and keep providing significant investment opportunities.”

Vice President of Chatay Group, Mehmet Yilmaz, echoed the views of Al Zamil , stressing Turkey successfully passed “the most challenging democracy test of its history” with its people, its democratically elected government and President Recep Tayyip Erdogan.

“Since the first day [of coup attempt] reactions we got from our friends abroad and in Turkey point to new opportunities [in the country] rather than circumstances to worry [about]. With the purging of those cancer cells which got foothold in the state and slowed down Turkey with diseases, the country will keep growing faster.” Yilmaz said.

Head of BYY Finance, which provides advisory services to mainly Gulf companies in Turkey on investment management, Bekir Yener Yildirim said that Turkey’s resilience against coup plotters was “a heroic moment of the country.”

“We believe investment environment will return to normal in a very short time, even more vivid than ever before. We see that even though there may be some short-term delays with regards to foreign investors, investments will continue. We observed this in our discussions with foreign investors.” Yildirim said.