ISTANBUL
The most important factor in stimulating growth in Turkey will be its capital markets, according to Tuncay Dinc, CEO of Borsa Istanbul.
Speaking to The Anadolu Agency's Finance Desk in Istanbul on Wednesday, Dinc said: "Growth in Turkey must be supported. We have to support growth to aim for the sky."
"However, the capital markets have not measured up to desired levels yet. While the capital markets remain ahead of the money markets in the U.S., Turkey is in the opposite situation," he said.
According to Dinc, one of the company's goals is to draw the attention of the foreign companies in countries near Turkey and to convince them to list their shares on Borsa Istanbul - this is referred to as the ListingIstanbul project, he said.
"Within the scope of this goal, we have met two companies so far," Dinc said. But the obligation to provide documents for an IPO in Turkish has been a challenge, Dinc said.
"Because we are obliged to ask for documents in Turkish, it can be sometimes tough for foreign companies," Dinc complained. "If companies can prepare listings in English, then I think number of the companies (to go public in Turkey) will increase."
"We started with DO&CO -- an Austrian catering company. But I believe, this number will increase," he added.
Dinc was appointed as Borsa Istanbul CEO on April 3 to replace Ibrahim Turhan, who had previously resigned to run for a seat in the upcoming parliamentary election on June 7.
