M. Nezih Allioglu, President of the Young Enterprise and Governance Association (GGYD), stated that foreign investors primarily look at the correct implementation of the law for capital investment, while foreign investors do not want to come because of the lack of trust in the legal system.
Stating that although the economic management has taken the right steps so far, the desired momentum could not be achieved at the point of foreign capital needed, Allioglu made the following evaluations: “If a foreign investor wants to make a serious capital investment in a country, they will first want their investment to be guaranteed. Foreign investors first look for the law and the correct implementation of the law in the country where they will invest. Unfortunately, at the moment, foreign investors do not want to come because of the lack of confidence in our legal system. Foreign investors want a safe environment.”
Allioglu pointed out that the sale of electric vehicles has increased 5 times and said that 2023 will be the year when the most new cars are sold. Pointing out that especially in April and May, auto sales were supported by the need for protection against inflation, with the rise in interest rates this has started to change, Allioglu said. He expects 1 million 200 thousand vehicles to be sold by the end of this year and reminds that even in 2016-2017 – the brightest years in terms of auto sales – total sales had reached 980 thousand.
Commenting on economic developments, Nezih Allioglu said that Turkey, which needs to strengthen its position in the global economy, should accelerate its R&D efforts, especially for green transformation.
Calling for an acceleration in the fields of sustainable industry and circular economy, Allioglu said, “In order to compete in the economy of the future, we must invest heavily in high technology and innovation.”