News / Europe

Turkey Seeks to Reassure Investors Over Protests

Residential towers are seen next to the newly built Mimar Sinan mosque in Atasehir on the Asian side of Istanbul in this September 4, 2012 file photo.
Residential towers are seen next to the newly built Mimar Sinan mosque in Atasehir on the Asian side of Istanbul in this September 4, 2012 file photo.
Reuters
Turkey's president and the country's international trade group sought to reassure foreign investors that the days of violent anti-government protests should not scare away multinational firms.

Turkey's location as a gateway between Asia and Europe and its young, skilled, talent pool have attracted a growing number of multinationals to place their regional headquarters there, contributing to the economy's “tiger” status.

Groups including Unilever, Ford and chemicals company BASF said they were watching the situation closely as the protests ran into their fifth day.

Bahadir Kaleagasi, an international coordinator for the Turkish Industry & Business Association (TUSIAD), told Reuters he had met representatives from multinational corporations on Wednesday to try to reassure them about the problems.

Refusing to name the companies, Kaleagasi said foreign investors were in the short term concerned about the impact it would have on their business.

“Companies are concerned about the short term effects - of hot money outflows for example,” he told Reuters.

People line in front of automated teller machines (ATMs) in Hatay, May 17, 2013.People line in front of automated teller machines (ATMs) in Hatay, May 17, 2013.
x
People line in front of automated teller machines (ATMs) in Hatay, May 17, 2013.
People line in front of automated teller machines (ATMs) in Hatay, May 17, 2013.
“But they are unanimous in remaining confident in Turkey while continuing to monitor the situation. They are cautiously optimistic,” he said, adding that 19 companies had voiced this sentiment during the meeting.

Turkey's President Abdullah Gul, after a meeting the head of Vodafone Turkey who is also the chairwoman of the International Investors Association (YASED), said on Tuesday that the country had implemented radical reforms.

“It is time that we carry the country to a much better level in all areas,” he said after meeting with Vodafone's Serpil Timuray.

A third of multinational companies in Turkey use the country as their regional headquarters, according to a survey by YASED and contribute to the country's $786 billion GDP in 2012.

“The safety of our employees has a high priority at BASF,” a spokeswoman said. “So we observe the situation carefully. Until now there is no impact on BASF in Turkey.”

Retailers such as Sweden's H&M and Britain's Marks & Spencer, have stores in the heart of Istanbul, which has seen the biggest demonstrations, but have said their operations have not so far been affected.

  • Riot police officers gather in central Ankara, Turkey, June 10, 2013.
  • An anti-government protester gestures during a demonstration in central Ankara, June 9, 2013.
  • Anti-government protesters remove bricks from a sidewalk to build a barricade in central Ankara, June 9, 2013.
  • Riot police chase protesters at Kizilay Square in central Ankara, June 9, 2013.
  • Supporters of Turkish Prime Minister Recep Tayyip Erdogan listen to his speech at the Ankara airport, June 9, 2013.
  • Supporters of Turkish Prime Minister Recep Tayyip Erdogan cheer upon his arrival at Istanbul's Ataturk airport, June 7, 2013.
  • Turkish Prime Minister Recep Tayyip Erdogan waves to supporters after arriving at Istanbul's Ataturk airport, June 7, 2013.
  • Pedestrians walk among tents set up by protesters in Gezi park, Taksim Square, Istanbul, June 6, 2013.
  • People observe a destroyed urban bus with a destination sign that reads ''This bus goes to Dictator'' at Taksim Square, Istanbul, June 6, 2013.
  • Thousands of protesters gather for another rally at Taksim Square in Istanbul, Turkey, June 3, 2013.
  • Protesters carry the Turkish flag and shout anti-government slogans during a demonstration at Gezi Park near Taksim Squar, Istanbul, June 3, 2013.

Car manufacturers such as Ford, Hyundai and Daimler have said that it has been business as usual.

“The protests ongoing in our country have nothing to do with our plant in Istanbul. That is a public reaction which is political,” said a representative of Mercedes-Benz in Turkey which is owned by Daimler.

Garanti Bank, Turkey's third-biggest lender, said on Tuesday a small number of its customers had canceled credit cards and withdrawn savings in protest at a sister media company's coverage of anti-government demonstrations.

Dogus Holding, which owns a major stake in Garanti, also controls the NTV television station, which has angered the protesters with its coverage.

You May Like

Video British Fighters on Frontline of Islamic State Information War

It’s estimated that several hundred British citizens are fighting for Islamic State alongside other foreign jihadists More

Pakistan's Political Turmoil Again Shines Spotlight on Military

Thousands of protesters calling for PM Sharif to step down continue protests in front of parliament, as critics fear political impasse could spur another military coup More

Photogallery Ebola Quarantines Spark Anxiety in Liberian Capital

Food prices rise sharply as residents attempting purchases clash with security forces, leaving one person dead More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Native Bees May Help Save Cropsi
X
Deborah Block
August 22, 2014 12:23 AM
U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video Native Bees May Help Save Crops

U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video US Defense Officials Plan for Long-Term Strategy to Contain Islamic State

U.S. defense officials say American air strikes in Iraq have helped deter Islamic State militants for the time being, but that a broad international effort is needed to defeat the extremists permanently. Defense Secretary Chuck Hagel warned Thursday that the group formerly known as the Islamic State in Iraq and the Levant, or ISIL, is better organized, and financially and militarily stronger than any other known terrorist group. Zlatica Hoke has more.
Video

Video Drug-Resistant Malaria Spreads in Southeast Asia

On Thailand’s border with Myanmar, also known as Burma, a malaria research and treatment clinic is stepping up efforts to eliminate a drug-resistant form of the parasite - before it spreads abroad. Steve Sandford reports from Mae Sot, Thailand.
Video

Video Gaza Conflict, Hamas Popularity Challenge Abbas

The Palestinian unity government of Mahmoud Abbas has failed to convince Hamas to agree to Egyptian-negotiated terms with Israel on a Gaza cease-fire. VOA State Department Correspondent Scott Stearns reports on what the Gaza conflict means for President Abbas, with whom U.S. officials have worked for years on a two-state solution to the Israeli-Palestinian conflict.
Video

Video Nigeria's 'Nollywood' Movie Industry Rolls in High Gear

Twenty years after its birth in a video shop in Lagos, Nigeria's "Nollywood" is one of the most prolific film industries on earth. Despite low budgets and whirlwind production schedules, Nigerian films are wildly popular in Africa and industry professionals say they hope, in the future, their films will be as great in quality as they are in quantity. Heather Murdock has more for VOA from Lagos.
Video

Video UN Launches 'Biggest Aid Operation in 30 Years' in Iraq

The United Nations has launched what it describes as one of the biggest aid operations in 30 years in northern Iraq, as hundreds of thousands of refugees flee the extremist Sunni militant group calling itself the Islamic State. As Kurdish and Iraqi forces battle the Sunni insurgents, the fighting has forced more people to flee their homes. Kurdish authorities say the international community must act now to avert a humanitarian catastrophe. Henry Ridgwell reports for VOA from London.
Video

Video Cambodian American Hip Hop Artist Sings of Personal Struggles

A growing underground movement of Cambodian American hip hop artists is rapping about the struggles of living in urban America. Most, if not all of them, are refugees or children of refugees who came to the United States from Cambodia to escape the Khmer Rouge genocide of the 1970s. Through their music, the artists hope to give voice to immigrants who have been struggling quietly for years. Elizabeth Lee reports from Long Beach, California.
Video

Video African Media Tries to Educate Public About Ebola

While the Ebola epidemic continues to claim lives in West Africa, information technology specialists, together with radio and TV reporters, are battling misinformation and prejudice about the disease - using social media to educate the public about the deadly virus. VOA’s George Putic has more.

AppleAndroid