12/14/2016
Important Disclosures Made During the IFC Meeting
Mehmet Şimşek: “Problems of the private sector are the problems of the state in a sense. But we may also have to regulate taking excessive risks in certain ways. We will check how we can open the way for financial hedging in Turkey and how we can encourage it.”
Akfen Holding’s Chairman of the Board Hamdi Akın: “We will make an investment of TL 6 billion in 2017 as Akfen and we will continue (investing). We have taken it as a principle to invest in renewable energy, but I do not know if we can build the wind power plants or hydroelectric power plants in 3 years or 6 years which we were able to build in 3 or 6 months in the past (5 years ago), if we start today.”
Deputy Prime Minister Mehmet Şimşek and prominent representatives from the private sector participated in the meeting honoring the 30th anniversary of the opening of the office of the International Finance Corporation (IFC) in Turkey. Mehmet Şimşek: “Problems of the private sector are the problems of the state in a sense. But we may also have to regulate taking excessive risks in certain ways” Mehmet Şimşek made the following statement during the speech he delivered in the meeting: “We have made a progress - though partially – in 2016 within the scope of structural reforms. We have to continue with the integration process with Europe in a much stronger manner. We can easily increase our trade volume with the EU to $ 300 billion. The Customs Union was a step taken for the benefit of our nation.” Şimşek also stating that they will focus on the financing needs of the real sector from abroad and the management of present foreign debts in 2017, said “Problems of the private sector are the problems of the state in a sense. But we may also have to regulate taking excessive risks in certain ways. We will check how we can open the way for financial hedging (action taken by the buyer or the seller to protect revenues against any increases in prices in the future) in Turkey and how we can encourage it.” Akfen Holding’s Chairman of the Board Hamdi Akın On the other hand, Akfen Holding’s Chairman of the Board Hamdi Akın said that Akfen Holding will make an investment of TL 6 billion in 2017. Akın: “We will make an investment of TL 6 billion in 2017 as Akfen. We have an investment of TL 6 billion all to be concluded at the end of 2017. TL 3 billion of this amount constitutes of PPP model hospitals. All will be completed at the end of 2017. TL 1.5 billion is invested in energy, mining and seaports. There is no such thing as we are not making any investments. But, it seems to have cooled down a little presently, at times when the dollar is so volatile. In other words, we have already started with our investments. We will continue. There is nothing such as coming to a halt. Mister Minister, you are also working in line with us. But, please, you are leading the way for us but I think that a bit more motivation may be necessary. We will collaterally give it to each other.” Akın underlining that Turkey does not end up with losses for those who invest in the country, said that Turkey needs development, that its face is turned towards the west and aims the levels achieved by the west in terms of growth and social issues. Akın commenting that 98 percent of the country will vote for the country to have its face is turned towards the west in case of a referendum in Turkey, stated that they have accordingly set their targets at high levels. “We have taken it as a principle to invest in renewable energy” Akın stating during his speech that renewable energy is not only of importance in the social sense but also in the economic sense, underlined that they have taken it as a principle to invest in renewable energy. On the other hand, Akın stating that building wind and solar power plants is not as easy in Turkey as it was in the past, spoke as follows: “When I say in the past, I mean 5 years ago. I do not know if we can build the wind power plants or hydroelectric power plants in 3 years or 6 years which we were able to build in 3 or 6 months in the past, if we start today. We are face to face with a number of bureaucratic drawbacks. It is really of utmost importance that these have to be remedied at the soonest. These have to be among the structural reforms. Because, we are really making very serious investments. Both in infrastructure and in energy. We have started investing TL 1.5 billion in energy for the year 2017. We have already initiated our investments in 2016.”
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