Istanbul gains approval for its financial center plans

Wednesday, April 23, 2014

Turkey is looking good to potential investors according to visitors to the Borsa Istanbul forum in New York

Turkey is looking good to potential investors according to visitors to the Borsa Istanbul forum in New York

NEW YORK - Turkey has always been a stable country regarding taxes and business laws, according to Nikos Stathopoulos from global investment company, BC Partners.

Speaking in New York at the Borsa Istanbul forum, "Istanbul: Regional Hub, Global Actor", which aims to inform an international audience of Istanbul's potential as an international financial center,  Stathopoulos added that "Turkey is a very attractive country regarding macro and micro economic figures." 

He explained that his company has been content with its investments in the supermarket chain, Migros, in Turkey since its initial investment in 2008 and said that they have recently increased the number of stores and employees.

Ibrahim Turhan, Borsa Istanbul's General Director, also speaking at the forum, mentioned the advancements Turkey's stock exchange has made since it was founded two years ago as a non-profit public institution.

Emphasizing the importance Borsa Istanbul gives to supporting small and medium size enterprises in Turkey, Turhan said "Small and medium size enterprises cannot easily reach financial resources abroad, so the only way out for them is capital markets. We founded a system for such enterprises and it is easy for every one of them to integrate into that system."

Meanwhile, Charles R. Johnston, director and senior vice president for International Government Affairs at Citigroup, appreciated Istanbul's potential in becoming an international finance center, saying "Istanbul is a perfect location".

Commenting on the up-to-date technology of Borsa Istanbul and its wonderful staff, Meyer “Sandy” Frucher, Vice Chairman of the NASDAQ OMX Group, also noted that "I think the efforts of the current government to develop Istanbul as a financial center will continue in a very stable way and be carried on my future governments."

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