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Important information for Arab investors in Turkey

22-04-2019 | admin

The Vice president of the International Business Forum, Ghazwan al-Masri, made important tips and information for Arab companies investing in Turkey on the sidelines of the Arab-Turkish Business summit held in Istanbul, sponsored by the Independent Businessmen and Industrialists Association (MUSAYYAD).

He asserted that in Istanbul, 17,000 Arab companies and 10,000 Arab companies in Gaziantep, most of which are Syrian, and that there is a need to increase the awareness of these companies, especially with regard to knowledge of the country's laws, such as tax laws, industry and investment.

He stressed the need for an umbrella under which Arab businessmen would meet, either a chamber of Commerce, a business association or any other organization, because Turkey had laws that were not applicable in the countries from which the investor came.

"We did this game after 6 visits to six major cities in Turkey, and these cities have large businessmen and Arab investors," he said.

Al-Masri said they started in Istanbul and then spread to Bursa, Mersin, UVA, Gaziantep and Antakya, and they spotted many different forms.

"We found that businessmen are looking for answers to too many questions, so we have been working with Arab businessmen associations and Arab businessmen, and we have taken the most important forms that hinder the Arab investor in Turkey," he said.

The biggest problem was migration, visas, residency and work permits, as well as the legal issue.

Last week, Istanbul hosted the "Arab-Turkish business summit", with some 700 Arab businessmen, as well as dozens of Turkish counterparts, representing 150 Arab and Turkish companies.

The conference sought to build bridges of communication between Arab and Turkish businessmen and promote trade relations between the two companies.

The Turkish Deputy Minister of Treasury and Finance, Noureddine Vegetarian, said investment in his country is "vibrant" and all the projects it attracts will generate profits.

Turkey provided security and support for all investments, including tax exemptions; citizenship was granted to foreign investors, if they met the required conditions.

Yassin cut-off, advisor to the ruling Justice and Development Party, said Turkey and the Arab world are "one inseparable body."

"Turkey is the land of opportunity and investment, it has an important strategic position in our Muslim world, and Arab investors have to communicate directly with their Turkish counterparts to find the best opportunities."

Investment opportunities in his country are not confined to the real estate sector, where there are many opportunities in the fields of energy, mining, etc.

"Despite geographical proximity and strong, deep-rooted ties, trade and economic relations with Arab countries are not at the required level," said Abdel Rahman Cannes, head of the Musayad Association.

In this context, he stressed the need to develop trade between Islamic countries. "We want to transfer Turkey's expertise to the Arab countries, and to strengthen cooperation with them on the basis of mutual economic interests," he said.

The numbers of Turkish exhibitions have recently risen dramatically, with official encouragement and sponsorship, especially from President Recep Tayyip Erdogan.

Over the past year, more than 206 branches in 76 countries have reached the "Musayyad" Association. Muhunter has contributed significantly to the development of the Turkish economy since its inception in 1990.

It has played a role in marketing local products to continents of the world, by receiving commercial bodies from outside Turkey, and setting up local and international forums and exhibitions.

In addition to opening dozens of representative offices in the countries of the world and holding bilateral meetings with businessmen from inside and outside the country.