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Qatar Invests 4 Billion Dollars to Turkey |
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Tuesday, 22 November 2005* Gulf Capital Loves Turkey; $4 Billion Coming from Qatar
The Turkish government's attempts to attract Gulf Capital to Turkey continue to bear fruit.
Following the over of Turk Telekom in return for $6.55 billion to the Lebanese Oger family, Dubai Crown Prince Sheikh Mohammad al-Makhtoum has decided to invest $5 billion in Istanbul and Prince Sheikh Hamed bin Zaid al-Nahyan, the brother of the Emir from the United Arab Emirates and the Chairman of Abu-Dhabi economic department, came to Turkey and held talks regarding investment opportunities and who is also expected to bid in the Telsim and Petkim tenders, making the latest investment decision to come from Qatar, which Prime Minister Recep Tayyip Erdogan visited last week.
Qatar First Deputy Prime Minister and Foreign Minister Sheikh Hamed bin Qasim bin Cebr Al-Tani announced that they envisioned investing up to $4 billion in Turkey and that the tourism sector was at the top of their investment list.
Al-Tani met with Turkish Union of Chambers and Commodities Exchanges (TOBB) Chairman Rifat Hisarciklioglu and Deputy Chairman Zafer Caglayan. Al-Tani said they needed to conduct research and studies in order to undertake their investments. "The outcome of these studies will determine the kinds of investments we will make, and the presence of this delegation shows the extent of the importance we attach to investments in Turkey. We are primarily interested in the tourism sector. We are also investigating transportation, communication, technology and agriculture sectors."
Stressing that they wanted to establish deeper economic relations with Turkey, al-Tani said, "We have historical ties with Turkey and we have many common points which link us. Turkey represents a passage way for the economy and the communication of technology and it stands at a cross roads between Europe and the Eastern countries. There are many Turkish firms in Qatar, particularly in the contracting sector. We seek cooperation on investments in both Turkey and Qatar. The current trade volume between the two countries is very low, but we plan to spend effort to increase these figures."
TOBB Deputy Cahirman Zafer Caglayan in response said that they commended and followed Qatar's steady and speedy development in the Gulf Region and noted that Qatar was one of the rare countries that was rich in natural resources. He expressed his belief that a more active era would commence in the commercial and economic relations between Qatar and Turkey. Caglayan noted that the construction, banking and tourism sectors were in the context of the principal areas where cooperation could be realized. He related that projects of considerable scale were being realized in Qatar and that Turkish firms hoped to take part in those projects and in the construction of the infrastructure and facilities for the 2006 Asian Olympic Games to be held at Qatar.
Source: Zaman, Ankara
22 November 2005 |
Tuesday, 22 November 2005
Gulf Capital Loves Turkey
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