Turkey is a safe harbor for Investors

By. Justin Mays

On June 24 Vice President Fuat Oktay signed a new cooperation deal with Tatarstan and an investment deal with Tatneft, a top Russian petrochemical company. Following the deal for cooperation on science and technology between Informatics Valley, a key Turkish technology ecosystem, and Tatarstan's Innopolis Special Economic Zone Oktay made clear why Turkey is a solid partner for international investors at a press conference. 

"Turkey is a safe harbor for international investors with its competitive production structure, qualified workforce, strategic location, modern logistics infrastructure, and inclusive support and incentive programs." 

Highlighting Turkey’s economic successes during the pandemic he explained that public and private sector investments have continued without the slowdown typical of most other major economies. Under the new agreement a new incubation center will be established in Innopolis, Tartarstan to provide “infrastructure, training, consultancy, and networking services to young entrepreneurs in the fields of mobility, information technologies and game development.” The memorandum of understanding with Tatneft includes support for a production facility in Turkey. It is the second deal made with Tatneft and will be in the field of chemical industry signed with the Gebze Organized Industrial Zone with support from the ministry. Tartarstan President Rustam Minnikhanov emphasized that many high-tech projects have been implemented in Turkey and that (the Republic of Tartarstan) was eager to take part in these projects.

 "As a result of our two days of hard work, interesting projects have emerged involving both Turkey and Tatarstan," Minnikhanov added.