Investors ‘caustiously’ optimist amid protests

ISTANBUL- Hürriyet Daily News

‘The foreign firms that make medium or long-term investments in Turkey’s industry and service sectors are not in a panic,’ a business person says. DAILY NEWS photo

International investors are cautiously optimistic about the ongoing “social movement” in Turkey, the international coordinator for the Turkish Industry and Business Association (TÜSİAD) said in a telephone interview with the Hürriyet Daily News yesterday.

Bahadır Kaleağası said the international investors had noticed that these country-wide protests were unlike the other more violent protests in the European Union or Arab Spring.

“They see that these incidents are not the factor of political instability. The beginning of the protests is different than the situation in Athens or Cairo. This is a post-modern reaction that aims to protect historical and ecological heritage and seeks expansion of freedoms and more accountable public authority,” he said, stressing that most of the investors, that he had talks with, were cautiously optimistic.

However, Kaleağasi stated that the inquietude of the investors depended on their investment types and their point of view about the country.

“The international companies that make medium or long-term investments in Turkey’s industry and service sectors are not in panic,” said Kaleağası.

“Turkey’s attractiveness for international investors is its Eurasian model: Turkey is a rule of law in line with EU standards. Also, it has Asian entrepreneurism, dynamism and communication skills,” he said. The companies, which prefer to make more permanent investments in Turkey by regarding its international attractiveness, are following the situation cautiously and carefully but there is no panic in the air, he noted. But, the ones whose investments depend on daily cash inflow and outflow on the stock exchange were more perturbed, Kaleağasi added.