ISTANBUL
Foreign companies invest in Turkey due to its geographical position, strong legal infrastructure and political stability, said the CEO and president of Siemens Turkey on Thursday.
Speaking at the 21st International Energy and Environment Fair and Conference, ICCI 2015, in Istanbul, which is sponsored by Anadolu Agency, Huseyin Gelis said that foreign investors see Turkey as an ideal place to make investments because of its geographical position and strong legal infrastructure.
"Turkey is a trustworthy country to make investments in. Siemens has been in Turkey since 1856 and sometimes I ask myself, 'Are we a foreign company in Turkey?' On the contrary, maybe we are a Turkish company of foreign origin. We saw Turkey's huge potential to attract foreign investment 160 years ago," Gelis said.
He added that between 2002 and 2014, Turkey has developed a lot and Siemens considers Turkey's economic future as bright despite the current account deficit or economic problems.
"Turkey's economy will grow in the coming years. We attach great importance to a country's economy, labor force, political environment, strategic environment and legal infrastructure before investing," he added.
According to Ozturk Selvitop, head of Energy Policy and Strategies Department from the Ministry of Energy and Natural Resources, Turkey is a fast-growing country.
"Turkey has a good hydrocarbon potential but it doesn't have natural gas or oil," Selvitop said. "We have a serious potential for renewable energy and soon we will start to generate electricity from our nuclear power plant. Currently, Turkey tries to diversify its energy sources."
Turkey's economy has grown for the last 20 quarters and has attracted $145 billion in investments since 2002.
