Reform plans target red tape for investors

ANKARA

(AA Photo)

Türkiye plans to simplify business procedures and establish a board to help resolve investors’ disputes with public agencies under its 2027-2029 Medium-Term Program.

The proposed Investment Coordination and Conciliation Board would address administrative and implementation problems before they reach the courts or arbitration.

A one-stop office would streamline business and investment procedures.

The program also calls for simpler rules from company formation to liquidation, with public services delivered through integrated digital systems to reduce processing times and costs.

A planned “Digital Company” scheme would make it easier to establish technology startups.

Artificial intelligence would also be used to speed up industrial property registrations.

A new market surveillance and inspection authority would consolidate functions currently performed by different public bodies, aiming to ensure consistent enforcement and avoid duplication.

Inspections targeting unfair practices in retail and e-commerce would be expanded.

The program envisages revisions to debt enforcement and bankruptcy legislation, including measures to prevent abuse of court-supervised debt restructuring procedures.

It also calls for wider use of arbitration, new specialist courts and online hearings.

Türkiye aims to complete the alignment of its personal data protection law with the European Union’s General Data Protection Regulation.

Efforts to attract foreign direct investment would prioritize projects that support technology and knowledge transfer, skilled employment and exports.

Priority sectors include data centers, artificial intelligence, semiconductors, battery technologies, mobility, biotechnology, renewable energy equipment and advanced manufacturing.

The program seeks to ease investors’ access to land, permits, infrastructure and financing while strengthening ties with local suppliers and research and development networks.

Türkiye also aims to diversify investment sources, targeting Europe, North America, the Gulf, Asia-Pacific and Central Asia.