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IMPROVEMENT OF INVESTMENT IMPROVEMENT OF INVESTMENT ENVIRONMENT ENVIRONMENT
&& IMPACT on FDI IMPACT on FDI
February 2009February 2009
Cavit DAĞDAŞCavit DAĞDAŞ
Deputy UndersecretaryDeputy Undersecretary
Undersecretariat of Treasury Undersecretariat of Treasury
Prime MinistryPrime Ministry
Undersecretariat for TreasuryUndersecretariat for Treasury
Undersecretariat of Treasury
OUTLINEOUTLINE
Improving Investment Climate: Why?
Improvement of Investment Climate Turkey’s Experience Coordination Council for the Improvement of Investment Environment (YOIKK)
Investment Advisory Council (IAC)
Major Achievements
Indicators of the Success
FDI Statistics of Turkey
International Indices and Reports
Future Agenda
Undersecretariat of Treasury
IMPROVING INVESTMENT CLIMATE
WHY?
Undersecretariat of Treasury
INVESTMENT
CLIMATE
COMPETITIVENESS
FDI
GLOBALIZATION
Predictability
Economic Stability
Political Stability
Free Market Economy
Investor-friendly framework
Improving Investment Climate: Why? Improving Investment Climate: Why?
Undersecretariat of Treasury
IMPROVEMENT OF INVESTMENT CLIMATE
TURKEY’S EXPERIENCE
Undersecretariat of Treasury
Improvement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s Experience
Diagnosis on Problem Areas of Investment Environment in Turkey
Determination of Priorities with All Relevant Parties
Design of an Appropriate Structure Involving the Stakeholders
Undersecretariat of Treasury
Location of Investment
Company Establishment Employment
Foreign Trade& Customs
Licensing
Intellectual Property Rights
Taxes and Incentives
Foreign Direct Investment Legislation
Investment Promotion SMEs
Coordination Council for the Improvement of Investment Environment (YOIKK)
Steering Committee
Investment Advisory Council
Corporate GovernanceResearch &
Development
Improvement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s Experience
Undersecretariat of Treasury
Investment Advisory CouncilInvestment Advisory Council
Executives of leading multinational firms,Executives of leading multinational firms,
Heads of international institutionsHeads of international institutions
(IMF, World Bank, European Investment (IMF, World Bank, European Investment Bank) andBank) and
TOBB, TUSIAD, YASED, TIM. TOBB, TUSIAD, YASED, TIM.
V. MeetingV. Meeting June 18, 2008June 18, 2008
IV. MeetingIV. Meeting June 11, 2007June 11, 2007
III. MeetingIII. Meeting June 29, 2006June 29, 2006
II. MeetingII. Meeting April 29, 2005April 29, 2005
I. MeetingI. Meeting March 15, 2004March 15, 2004
Investment Advisory Council of Turkey had 5 meetings so far.
Improvement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s ExperienceImprovement of Investment Climate: Turkey’s Experience
Undersecretariat of Treasury
MAJOR ACHIEVEMENTS
Undersecretariat of Treasury
Major AchievementsMajor Achievements
Investment Support and Promotion Agency of Turkey
Simplification of Business Start-Up
www.invest.gov.trwww.invest.gov.tr
Indicators of Business Start-Up
TurkeyTurkey OECD OECD AverageAveragePre-Pre-
RefomRefom20020077
No. of No. of procedures procedures
1313 66 66
Day Day 3838 66 14.914.9
FDI Law
No Pre-entry Screening Requirement No Minimum Capital Requirement National Treatment
Undersecretariat of Treasury
INDICATORS OF SUCCESS
Undersecretariat of Treasury
Indicators of Success - FDI StatisticsIndicators of Success - FDI Statistics
1,1 1,82,8
10,0
22,2
17,7
20,2
3,4
0
2
4
6
8
10
12
14
16
18
20
22
24
2001 2002 2003 2004 2005 2006 2007 2008
Increased FDI Inflows...
USD Billion
Source: Turkish Treasury, Provisional Data
Undersecretariat of Treasury
72428.271
10.884
14.053
21.079
17.682
5.294
0
4.000
8.000
12.000
16.000
20.000
24.000
1954-2002 2003 2004 2005 2006 2007 2008
Upward Trend in Number of Companies with International Capital (Cumulative)
Source: Turkish Treasury, Provisional Data
Indicators of Success - FDI StatisticsIndicators of Success - FDI Statistics
Undersecretariat of Treasury
World Investment Report 2008, UNCTAD
Indicators of the Success- Investment Indices
20052005 20062006 20072007
FDI Stock in TurkeyFDI Stock in Turkey(USD Billion)(USD Billion)
64.464.4 7979 146146
Turkey has been selected as 15th attractive country to Turkey has been selected as 15th attractive country to invest in 2008-2010 term. invest in 2008-2010 term.
Turkey has been 21st in terms of FDI stock; while it Turkey has been 21st in terms of FDI stock; while it
was 25th in 2006.was 25th in 2006.
Undersecretariat of Treasury
# of countries# of countries Turkey’s RankingTurkey’s Ranking
DOING BUSINESS 2009DOING BUSINESS 2009 181181 5959
DOING BUSINESS 2008DOING BUSINESS 2008 178178 6060
DOING BUSINESS 2007DOING BUSINESS 2007 175175 6565
DOING BUSINESS 2006DOING BUSINESS 2006 155155 8484
World Bank - Doing Business 2009 Report
Doing Business 2009 Report Turkey has displayed progress in;• employing workers, • protecting investors and• enforcing contracts.
Indicators of the Success- Investment Indices
Undersecretariat of Treasury
Improvement in International Competitiveness
Heritage Foundation Economic Freedom Heritage Foundation Economic Freedom IndexIndex
20052005 20062006 20072007 20082008
No of No of countriescountries 161161 157157 157157 162162
Ranking Ranking of Turkeyof Turkey 112112 8585 8383 7474
Forbes / Best Countries for Forbes / Best Countries for BusinessBusiness
20062006 20072007 20082008
No of No of countriescountries 135135 144144 121121
Ranking of Ranking of TurkeyTurkey 6161 4848 4141
Tranparency International/Corruption Tranparency International/Corruption Perception IndexPerception Index
20062006 20072007 20082008
No of No of countriescountries 163163 180180 180180
Ranking of Ranking of TurkeyTurkey 6060 6464 5858
Indicators of the Success- Investment Indices
Undersecretariat of Treasury
FUTURE AGENDA
Undersecretariat of Treasury
Future AgendaFuture Agenda
Investment climate reform program will focus on:Investment climate reform program will focus on:
Decreasing time and cost of business start-up Decreasing time and cost of business start-up
Improving flexibility of the labor marketImproving flexibility of the labor market
Simplifying and decreasing cost of sectoral licensingSimplifying and decreasing cost of sectoral licensing
Simplifying and decreasing cost of customsSimplifying and decreasing cost of customs
Easing access to finance for SMEs Easing access to finance for SMEs
Enhancing corporate governanceEnhancing corporate governance
Strengthening R&D activitiesStrengthening R&D activities
IMPROVEMENT OF INVESTMENT IMPROVEMENT OF INVESTMENT ENVIRONMENT ENVIRONMENT
&& IMPACT on FDI IMPACT on FDI
February 2009February 2009
Cavit DAĞDAŞCavit DAĞDAŞ
Deputy UndersecretaryDeputy Undersecretary
Undersecretariat of Treasury Undersecretariat of Treasury
Prime MinistryPrime Ministry
Undersecretariat for TreasuryUndersecretariat for Treasury