B&R Initiative markedly increases investment in Turkey
The Belt and Road Initiative is a watershed in China's investment history in Turkey, Turkey's investment promotional agency said.
By the end of last year, more than 870 Chinese enterprises have invested a total of US$2.2 billion in Turkey, more than 70 percent of which occurred after 2014, according to the Investment Support and Promotion Agency of Turkey.
At an investment promotion forum held by the agency in Shanghai, its President Arda Ermut said that Chinese enterprises' interest in investing in Turkey has clearly surged after China proposed the Belt and Road Initiative in 2013.
Ermut said that three changes have occurred in the investment from Chinese enterprises in Turkey:
More financial agencies, such as the Industrial and Commercial Bank of China and Bank of China, have come to Turkey to provide financing services for the Chinese enterprises -as a vanguard for some large investment projects; Some infrastructure construction companies have started setting up their branches in Turkey and entering into joint ventures with local partners, showing their resolve to seek long-term development in Turkey; An increasing number of Chinese high-tech enterprises in the fields of telecommunication, nuclear power, high-speed railway, and new energy are investing, compared to more trading in the past.
He said Turkey's strategic location means investing in the country can give the Chinese investors a strong foothold to go to the markets in the Middle East, North Africa, Europe, Central Asia and Russia.
"That's why Turkey plays a special and important role in the Belt and Road Initiative. We welcome infrastructure construction enterprises, companies of auto, chemical engineering and machine manufacturing industries to develop in Turkey. We also welcome enterprises in the sectors of information technology, real estate industry and medium- and small-sized enterprises, as the Chinese enterprises have demonstrated innovative vitality and international competitiveness in many fields," Ermut added.
