Turkey

Following the global financial crisis and the slowdown in international financing, Turkey struggled to garner interest in its privatisation programme and nearly a decade of successful liberalisation slowed dramatically. In 2011 privatisation revenues were $1.4bn, down from a peak of $8.1bn in 2006. However, the programme came roaring back in 2012. While some obstacles had...

Throughout 2014 Turkey had to shoulder its fair share of international financial turbulence, especially in terms of currency volatility. However, despite investor concerns, the country has largely retained its appeal as a success story in the region with relatively sound long-term growth potential, provided the appropriate structural reforms are enacted.

With the primary goal of establishing a leading global financial centre in Istanbul, the Turkish government continues to create a legal framework that will encourage and accommodate this goal. The foundation was laid with the recent Capital Markets Law (CML) No. 6362. The Capital Markets Board (CMB) continues to align Turkey’s legal basis to comply with EU regulations....

Turkey seeks to become a top-10 economic power by 2023. The most important step in reaching this target will be the provision of the necessary finance needed for business and investment opportunities. The country will have to triple GDP within the next eight years to achieve this target. It is apparent that to do this Turkey will require substantial foreign direct...