28.03.2015 Kartepe
Turkey needs a new economic model that focuses on technological transformation, women’s participation in the workforce, and increasing entrepreneurship, stated the Union of Chambers and Commodity Exchanges (TOBB) President M. Rifat Hisarcıklıoğlu.
“Turkey needs a new economic
model. The most basic element of the new model must be high technology. We need
to put an end to unnecessary daily debates and focus on the main point,”
Hisarcıklıoğlu said at the 11th summit of the Economy Journalists’ Association
(EGD) in the northwestern district of Kartepe.
In his speech, he noted that Turkey lags behind many emerging countries
in producing high technologies and has become stuck in the middle-income trap.
Hisarcıklıoğlu said that only 21 of the 100 most rapidly growing
companies in Turkey are software and IT companies, compared with 60 in the
United States.
“It is time to make new reforms. Turkey needs to distinguish itself in a
geographical location embroiled a series of stiff conditions. It needs
comprehensive educational, legal and administrative reforms,” he said.
“We must not wait for the flow of
investment to the eastern and southeastern regions only by the public sector …
The role of the state must be to build the required infrastructure to lure the
private sector to these regions to make investments,” he said.
Turkey is expected to reach around $13,000 income per capita by 2020
with an average annual growth of around 3 percent. However, Hisarcıklıoğlu
suggested that if a “new story” is written in the Turkish economy through
reforms, these figures could increase to $17,000 at around 7 percent growth.
- Turkey’s economy continues to
grow
He noted that current growth signals were not strong in the first
quarter of 2015 and net exports had not made a big contribution to growth.
“But Turkey still continues to grow. Unemployment is still a problem,
but the private sector added 1.1 million new jobs in 2014. This figure is
really good,” Hisarcıklıoğlu also said.
- “QR coded cheques will enter
the market soon”
Reporting that QR coded cheques will be entering circulation following
their meeting with Deputy PM Ali Babacan, Hisarcıklıoğlu stated that a new
transaction instrument would become available.
By scanning the QR code of the cheque, one would have access to
information regarding the transaction history of the person who gave you the
cheque. This would include whether the owner has unpaid debts or has given out
bounced cheques in the past, Hisarcıklıoğlu went on, “You would have the option
of asking for a regular or QR code cheque. With QR coded cheques you would have
additional information and not be working on hunches.”
- Turkey needs a new economic
model
Turkey needs a new economic model that focuses on technological
transformation, women’s participation in the workforce, and increasing
entrepreneurship, stated the Union of Chambers and Commodity Exchanges (TOBB) President
M. Rifat Hisarcıklıoğlu.
Pointing out that current deficit, seen as a driving force behind growth,
can no longer be considered as such, Hisarcıklıoğlu reported that Turkey’s high
tech production is only 4% while the average among OECD countries is 18%,
stressing the importance of high tech production in economic growth.
- “In a sign of expressed malice,
some companies are delaying bankruptcy”
Hisarcıklıoğlu stated that delaying bankruptcy has been problematic
recently in that some companies are delaying the process in order to exploit
their creditors. Also touching on the matter of “false black lists” falsely
purporting that various companies are on the verge of bankruptcy, causing banks
call in debts from these companies. Hisarcıklıoğlu has stated that he has
already discussed the matter with the Banking Organization and Investigation
Institution Chairman.
- Peace process
Hisarcıklıoğlu also stated that he and TOBB representatives met with
Deputy Prime Minister Yalçın Akdoğan to discuss the economic ramifications of
the peace process.
“If there is no peace, there will be no trade, and if there is no trade,
there will no wealth. According to research, the most hopeful province for the
future was the eastern province of Batman by around 90 percent last year,
thanks to the signs of peace in the region. Batman was followed by the eastern
province of Diyarbakır with 82 percent, the southern province of Gaziantep, the
northwestern province of Kocaeli and the eastern province of Bingöl. So what
the peace process brings is of crucial importance for our country,” he said.
Hisarcıklıoğlu went on to touch on various issues such as the need to
look forward in a positive light, the need to expand beyond Marmara in regards
to high tech and the vocal demand for a new constitution by all parts of
society.