'Turkey to see more investment over next 5 years'

ISTANBUL

Turkey will see a larger volume of investment flow in the next five years, said the head of Turkey's presidential investment office on Friday.

Turkey's investment office participated with Turkish investors and startups in Web Summit 2020, which is among the most important technology conferences in the world, according to a statement by the office.

In the summit, a session, Turkey: Reshaping Venture Capital in Emerging Markets, was held by the presidential investment office with the attendance of Turkish entrepreneurs.

Burak Daglioglu, head of the presidential investment office, said in a statement: "As the Presidency Investment Office, venture capital and technology enterprises are among our priority agenda items. Istanbul also needs to reach its deserved place all over the world, as an entrepreneurship center."

Stressing Turkey has a highly developed and a supportive entrepreneurial ecosystem, Daglioglu said international funds have invested in the country to gain higher returns.

Enis Hulli, partner of 500 Startups Istanbul, an investment firm, also said the total amount invested in startups is around $100 million annually in Turkey, according to a statement by the office.

"Turkey was one of the leading countries in this field with a total output volume of $3.5 billion since 2018. Considering the increasing interest of foreign investors and acquisitions, Turkey is one of the most profitable markets in the world for early stage investors," he added.

* Writing by Yunus Girgin in Ankara