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The striking economic
shifts of the 80's ushered a new era for the world economy,
where privatization became one of the most essential and
indispensable financial reforms on the economic agendas of
many nations. As being one of the fundamental tools of the
free market economy, privatization has been on Turkey's agenda
since 1984.
Privatization in Turkey, not
only aims to minimize state involvement in economic
activities and to relieve the financial burden of State
Economic Enterprises (SEE) on the national budget, but
also contemplates the development of capital markets and
the rechannelling of resources towards new investments.
Turkey, one of the fastest
growing economies of the world has positioned itself as an
attractive and promising investment environment through
the implementation free trade principles and establishment
of dynamic capital markets as well as offering liberal
incentives facilitating transactions for international
investors and exporters.
The fundamental
transformation in Turkish economy has moved the country
from an inward-focussed import substitution model towards
an export led growth and industrial one.
The East-West expansion of
the world's geopolitical horizons has opened up a new era
for Turkey with many promising opportunities for
international investors. The investment opportunities in
Turkey are particularly attractive in the framework of
country's ongoing ambitious privatization agenda. The
involvement and participation of international investors
is highly encouraged in the massive privatization program.
The privatization process in
Turkey with a view of relieving the burden of state
economic enterprises on the national budget has proved to
be an important source of funds for the government and
brought tangible results and progress within this
philosophy. Although this task has not been easy, many
state-owned companies have passed to the private sector. |
