Erdogan’s office to deal directly with big international investors under Turkish executive presidency
President Recep Tayyip Erdogan said on July 24 that Turkey stands ready to arrange conditions for international investors in every way and that his office would start dealing with big potential investors directly.
Addressing his ruling Justice and Development Party (AKP) in parliament, Erdogan urged international financial circles to trust in Turkey’s future. Exclusive units were being set up under the presidential office to handle potential investments, he added.
Since his June 24 election victory triggered constitutional changes narrowly officially approved in last year’s referendum, Erdogan has embarked on an executive presidency that makes him the most powerful Turkish leader since Mustafa Kemal Ataturk, the founder of the Republic of Turkey and its first president from 1923.
His opponents have warned that Turkey is now essentially under one-man rule. Winning the confidence of big investors could be vital in ensuring that the country, facing challenging economic imbalances and a severely devalued Turkish lira (TRY), does not slip into an emerging market currency-and-debt crisis.
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