Investors Cautiously Optimistic Around Turkish Social Movement

Posted on 15 June 2013

The growing “social movement” in Turkey is not a major cause of concern for investors according to a senior member of the Turkish Industry and Business Association.

In a telephone interview with Hurriyet Bahadır Kaleağası, an international coordinator with the body said the international investors had noticed the differences between the Turkish unrest and those held recently in the EU and especially those seen during the 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.

That said, Kaleağası did point out that the level of concern about the protests is directly dependent on the type of investments being made by a given investor or group.

“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. 

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