30.10.2016 Ankara
Answering questions from Anadolu Agency, TOBB President M. Rifat Hisarcıklıoğlu said, in regards to credit grade reduction by Moody’s, “It is clear that the realities of the economy are not reflected by rating organization appraisals. We’ve gained significant ground for the improvement of the business and investment ecosystem in our work with the public administration. I believe that these efforts will soon bear fruit and Turkey will regain its rapid growth rates.”
Hisarcıklıoğlu
emphasized that Moody’s lowering of Turkey’s note to below suitability for
investment is a clear indication that the realities of the economy are not
reflected by rating organization appraisals.
Stating that it rating
organizations have failed to present accurate appraisals of the Turkish economy
in the past as well, Hisarcıklıoğlu said that Moody’s had raised Turkey’s note
to over suitable for investment in May 2013 after which Turkey had broken
growth records, and that Moody’s note for a country which draws in 20-25
billion USD in direct investments annually is ‘unsuitable for investment.’
Hisarcıklıoğlu went
on:
“Apparently,
investors didn’t much care for their appraisement. I don’t think they will now
either. We, the Turkish private sector, know that those who invest in the
future of Turkey will always prosper. I invite all investors, domestic and
foreign to Turkey. We convened with the companies which invest in Turkey last
month, bringing them to meet with the Prime Minister and the President of the
Republic of Turkey. Those who listened to what they had to say let go of their
anxieties in regards to the Turkish economy. Now, everyone looks to the future.
We’ve gained significant ground for the improvement of the business and
investment ecosystem in our work with the public administration. I believe that
these efforts will soon bear fruit and Turkey will regain its rapid growth
rates. As the Turkish business community, we trust in our country, economy and
entrepreneurs and believe that we will keep moving forward. By continuing the
implementation of economic structural reforms with all due haste, we will have
answered the claims of these ratings organizations in the best way possible.”
- “Seeing the appetite for investment [in Russia] is very
gratifying”
Answering questions
regarding economic relations with Russia, TOBB President M. Rifat
Hisarcıklıoğlu stated that he has attended a two day business summit as guest
of the Russian Union of Industrialists and Entrepreneurs (RSPP).
Hisarcıklıoğlu said,
“There is significant warming towards Turkey. The three Russian Deputy
Secretaries I met with have stated that they want to normalize relations with
Turkey to where they stood prior to November of 2015. As the Turkish private
sector, we can see that our issues with Russia persist while we are on the road
to reconciliation. We will continue to follow the process closely.”
Stating that Russia
and the Russian business community are keen to invest in the Turkish Flow and
Akkuyu Nuclear Plant projects, Hisarcıklıoğlu said, “It is gratifying to see
appetite for investment in Turkey.”